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By: Adam Stone
May 20th 2014 5:54am GMT, London UK

Binary options traders will start the trading day with a fair bit of opportunity in the markets. Our oft covered favorite, the S&P, is still stretching gains towards the 1900 level but is probably 1-2 more sessions away from a true test of the resistance. The EUR/USD forex pair is trading just about the 1.3710 level and this could means serious trouble for the currency duo. Starting with the equity markets, binary options traders will likely notice that despite repeated pressure based surges to the upside, the relative trend to the direction for the equities in the US has been rather muted.

Binary options traders will likely keep the S&P in watch lists today though. The short term technical outlook is better than yesterday’s and as such the likelihood of a test and possible follow through, assuming a break occurs, looks like a much higher possibility today. The issue now is the timing. As compared to forex trading, which is much harder to time due to the 24 hour nature of the asset class, equities and equity indices are limited in time frames and this is a distinct positive for binary options traders. By limiting your focus to perhaps the US session exclusively, yes, you’d be giving up a lot of the EU session action and volatility. On the other hand, the US session is shorter and more intense. It provides more news driven surges and thus provides a plethora of trades to take advantage of.

So for today, at the least, focusing solely on the US session looks like the right choice. If of course you choose to follow the ongoings of the EUR/USD, however, this will all need to go to the bin. Following the EUR/USD pair will be more difficult seeing as how it’s already leaning on the support level mentioned above. Problem is further exacerbated by virtue of the fact that the downside pressure seems to be absolute here. In other words, reversal strategies and up options are probably a bad idea here and binary options traders will need to focus exclusively on the down options when the breaks make themselves present in the market. 1.3695 is the support level below our current position and binary options traders may do well by waiting for a break towards that support at which time things may look different and reversal strategies using this support as a trigger could do very well today.

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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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