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EURUSD – SEPTEMBER 4TH 2014

WELLS FARGO 58.345 17:30 22.02
OIL-APR17 (BRENT) 55.785 17:30 22.02
TOYOTA (US) 114.260 17:30 22.02
COLGATE-PALMOLIVE 73.085 17:30 22.02
FERRARI 65.855 17:30 22.02
TSX 60 936.300 17:30 22.02
NZD/CAD 0.94522 17:30 22.02
ALIBABA 104.995 17:30 22.02
BOEING 175.425 17:30 22.02
PFIZER 33.705 17:30 22.02
AUD/USD 0.76870 17:30 22.02
AUD/JPY 87.211 17:30 22.02
GBP/USD 1.24415 17:30 22.02
EUR/USD 1.05560 17:30 22.02
GENERAL ELECTRIC 30.305 17:30 22.02
S&P 500 2362.140 17:30 22.02
JP MORGAN CHASE 90.965 17:30 22.02
METRO AG 29.860 17:30 22.02
SILVER 17.993 17:30 22.02
AIG 64.085 17:30 22.02
GOLD VS OIL 22.1128 17:30 22.02
OIL-MAR17(WTI CRUDE) 53.980 17:30 22.02
USD/CAD 1.31958 17:30 22.02
FTSE MIB F-MAR17 18867.500 17:30 22.02
GOLD 1233.564 17:30 22.02
DOW 20760.31 17:30 22.02
TELEFONICA 9.354 17:30 22.02
AUD/CAD 1.01435 17:30 22.02
DOLLAR INDEX-MAR17 101.390 17:30 22.02
3M 185.110 17:30 22.02
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By: Adam Stone
September 4th 2014 5:39am GMT, London UK
 

Today’s Binary Options Trading Strategy:

• Currency Pair: EURUSD
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary call options on dips below 1.3150
• Upside Potential: The upside potential for this binary call option is 280 pips to 1.3430
• Downside Potential: The downside potential for this binary call option is 150 pips to 1.3000

The EURUSD is trying to form a bottom after a sharp correction depressed this currency pair which has completed a breakout during yesterday’s trading session. The EURUSD can trace the origin of its current pullback to an intra-day high of 1.3412 which it reached on August 15th 2014 and represented a lower high. An intra-day low of 1.3110 was recorded on September 2nd 2014 from where the current breakout emerged.
Price action is expected to resume its move upward after completing a breakout away from its falling wedge formation which is a bullish chart pattern. Binary options traders can capitalize from the expected continuation of the rally with binary call options. Today’s binary options trading strategy suggests call options to be placed below 1.3150 for a risk/reward ratio of 1.0/1.87.

EURUSD

The breakout above the descending resistance level of the EURUSD’s falling wedge formation, a bullish chart pattern which indicates the potential end of the previous trend and a pending reversal in price action, is a positive sign and the EURUSD is expected to resume it move higher especially if the European Central Bank remains on the sidelines and rules out quantitative easing in the near future; a likely outcome from today’s press conference which could push the Euro sharply higher. This scenario would favor binary call options in the EURUSD currency pair.

The next resistance level for the EURUSD awaits the expected continuation rally at 1.3224 which is an intra-day low reached on August 22nd 2014 from where this currency gaped lower. A successful breakout above this level will take the EURUSD to the 1.3336 level which is an intra-day low where the next horizontal resistance line could halt the advance in this currency pair. The next resistance would take the EURUSD back to the 1.3430 from where a double top formation could emerge.

The following economic data out of the Eurozone is expected to impact the base currency, the Euro, of the EURUSD currency pair:

European Central Bank Announcement on Interest Rates, Marginal Lending Facility & Deposit Facility:

• Expectations: Interest Rate at 0.15%, Marginal Lending Facility Rate at 0.40%, Deposit Facility Rate at -0.10%
• Previous Meeting’s Announcement: Interest Rate at 0.15%, Marginal Lending Facility Rate at 0.40%, Deposit Facility Rate at -0.10%
• Impact on the Euro: Expectations grew for the European Central Bank to further ease monetary policy and even announce an outright quantitative easing program while the ECB may remain on the sideline and not act at all; this favors binary call options in the EURUSD currency pair

In addition the following economic report out of the United States is expected to impact the quote currency, the US Dollar, of the EURUSD currency pair:

Institute of Supply Management Non-Manufacturing Composite Index for the month of August:
• Expectations: A reading of 57.0 in the ISM Non-Manufacturing Index for the month of August
• Previous Month’s Data: A reading of 58.7 in the ISM Non-Manufacturing Index for the month of July
• Impact on the US Dollar: The sharp slowdown in the ISM Non-Manufacturing Index is expected to drop the US Dollar which favors binary call options in the EURUSD currency pair

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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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