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By: Adam Stone
March 11th 2014 7:00am GMT, London UK
Binary options traders get ready for a new day with some exciting aspects of trading ready to take over the whole spectrum of trading activity today. The markets are coming off a pretty miserable opening session yesterday. The US session was marred by losses due to the poor showing of economic indicators of late from both the US and China have led to concern about global demand. On the other hand, to deem the results from yesterday as “miserable” may be a bit harsh. After all, the S&P recouped most of it early losses to close just under the break even level. However, the Dow did lose a fair bit more and couldn’t make up for the losses incurred early in the session that seemed spurred by the NFP reports from Friday.

In the end, that’s not really the whole story as there are an unusually large number of geo-political events that traders need to wade through just to get a murky image of the always difficult to manage waters of the markets. It’s always a difficult task but with the Russians in the Ukraine, US economic results not up to par, Israel in the news as always, Qatar being boycotted by the rest of the GCC nation, and China disappointing markets it’s simply all a bit much and gives traders pause before looking to take long positions. It’s interesting to note that the market turmoil is felt by even the shortest term traders; binary options traders. According to Daniel Gant, the GOptions dealing room manager and chief broker stated that “binary options traders have pushed towards shorter term trades in the last 3 trading sessions. The average duration of trades has dropped by 24% in these days and the amount of overall volume on turbo trades has increased by 40% over this period. This is unprecedented and should be monitored by traders.

For the time being, the EUR/USD is surprisingly stable and above the support line at 1.3850. However, the market has already tested this level and it looks ready for a break. A break here (below 1.3840) will usher in a 100 pip move as this is the height of the head and shoulders pattern we explained yesterday in our analysis. Take note and get ready for a big one today, especially if the market break early in the session.

EURUSD with binary options 11-3-2014

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Adam Stone
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Adam Stone

As COO of GOptions, my first and foremost goal is to provide traders with the most up to date info from the markets. I have been trading the markets since 2004 and have been involved with stocks, binary options, and forex trading since then. I have had no formal market education and pride myself on a self taught approach to everything related to trading. I try to focus though on both the technical and fundamental aspects related to each trading day and bring forward the most important aspects of risk/reward in the market.
Adam Stone
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