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EUR/USD TO BREAK HIGHER AGAIN?

GBP/USD 1.25514 10:20 24.02
EUR/USD 1.05914 10:20 24.02
OIL-APR17 (BRENT) 56.330 10:15 24.02
AUD/USD 0.77055 10:15 24.02
AUD/JPY 86.694 10:15 24.02
SILVER 18.268 10:15 24.02
GOLD/EUR 1185.135 10:15 24.02
OIL-MAR17(WTI CRUDE) 53.980 10:15 24.02
GOLD 1255.437 10:15 24.02
EUR/JPY 119.183 10:15 24.02
USD/JPY 112.507 10:15 24.02
GBP/USD 1.25443 10:10 24.02
EUR/USD 1.05929 10:10 24.02
BitCoin/CNY 7817.995 10:00 24.02
USD/RUB 57.877 10:00 24.02
USD/NOK 8.32889 10:00 24.02
USD/CHF 1.00520 10:00 24.02
OIL-APR17 (BRENT) 56.245 10:00 24.02
NZD/CHF 0.72642 10:00 24.02
CAD/CHF 0.76746 10:00 24.02
NZD/USD 0.72268 10:00 24.02
SUGAR (11)-MAR17 20.1150 10:00 24.02
EUR/AUD 1.37528 10:00 24.02
CAD/JPY 85.880 10:00 24.02
AUD/USD 0.77030 10:00 24.02
AUD/JPY 86.645 10:00 24.02
GBP/USD 1.25379 10:00 24.02
EUR/USD 1.05932 10:00 24.02
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By: Adam Stone
March 25th 2014 8:00am GMT, London UK
 

Yesterday, binary options traders watched as again, the US stock indices dropped and were unable to recoup losses on any level. After Friday’s session provided some room for imagination with optimism in the air, Monday’s opening session was rather horrid with absolutely nothing to grab onto for the bulls. Bears on the other hand, harder to find in binary options on indices due to the fact that binary traders tend to walk away from indices when they head downward. As this is the case and a phenomenon well established now, binary options traders are likely refocusing energies on forex pairs. Although this is sort of a forgone conclusion, considering the fact that 75% of volume in the last 4 sessions has been on forex, the EUR/USD will be the focal point for binary traders.

The EUR/USD recently headed higher and broke past resistance as we expected yesterday. The currency pair, which we explained yesterday that had a better chance of such a move, is looking to repeat this behavior again today. The current resistance level 1.3842 was broken momentarily, for less than an hour yesterday, is likely to break again and considering that we are so close to this level at the moment, this is for the fastest of traders. 1.3830 is the current trading level for the pair now but we don’t expect a move lower despite the tests of the upper bound which ordinarily causes a limited pause. But given the current patterns on the 15 minute and 1 hour charts provide no momentum indicators for a retreat. So expect the move to continue higher towards 1.39 and possibly beyond. This the directional bias we recommend all traders to keep a very close eye on.

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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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