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By: Adam Stone
June 16th 2014 6:05am GMT, London UK

The new trading week could get set to begin on a very positive outlook. Last week closed on much better footing in the equity markets despite some volatility experienced in the markets during the week. The S&P closed out the session on Friday rising to 1936 after a climb of 0.31%. The move higher places the index back in position to blow past yet another record high, set earlier last week. For binary options traders, the new level of interest is without a doubt the record high of 1955. However, most experienced traders on indices will note that the level is a bit out of reach for the day ahead. However, we certainly recommend that binary options traders keep the index on their watch list for the day ahead. It’s a stretch to think that the index will pull a 1% move for the day, but it’s possible so traders need to keep an eye on it.

SP with Binary Options 16-6-2014

With some news ready to break in Europe early today (in about 2.5 hours at 9am GMT, things might take a quick turn back to negativity. However, for the time being, barring any major negativity, it looks as though the only worry for the uptrend is something to come from the US and that’s not very likely. Seeing as how virtually no major news (other than the European CPI as mentioned above) is expected for the day ahead, binary options traders can likely stay focused on the uptrend. There are quite a large number of minor releases expected in the US, but again, it’s not significant enough to change the course.

For forex traders, the EUR/USD is still stuck in a range between support at 1.3523 and the resistance at 1.3592. While rather wide as a day trading range, it’s very possible that either of the 2 edges will at least be tested today. Reversal strategies are likely to be the most prevalent of strategy uses for the day ahead. Binary options traders should keep a close watch on the forex pair as it can provide signals in 4 ways today:
1. Break above resistance (1.3592)
2. Reversal signals after testing resistance
3. Break below support (1.3523)
4. Reversal signals after testing support

When it comes to reversal signals, make sure to verify the momentum in the opposite manner of momentum verification for breaks. In other words, when seeking reversals, you want to make sure that the momentum is not only dead but turning the other way. One fantastic ways to do this is by using the MACD indicator. When the 2 indicative lines cross, it generally signals a reversal. This is especially useful if the lines are crossing from the bottom up (signaling a reversal upwards) or from the top down (signaling a reversal downwards).

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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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