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By: Adam Stone
January 21st, 2015 5:10am GMT, London UKNZDUSD

Price action is currently trading inside its horizontal support level and a sideways trend is likely to emerge in order to deflate further downward momentum. The NZDUSD is expected to stabilize and drift higher before accelerating back to its horizontal resistance level. Binary options traders can benefit from the anticipated move to the upside with binary call options. Today’s binary options trading strategy suggests call options to be placed on dips below 0.7675 for a risk/reward ratio of 1.0/2.80.

Volatility has decreased as the NZDUSD has entered a corrective phase away from its most recent intra-day high. Volatility is expected to increase as this currency pair is trading inside its horizontal support level. Sellers are likely to attempt a breakdown below this level in order to extend the current move to the downside. Buyers are expected to take the validity of its horizontal support level in order to reverse its corrective move. This favors binary call options in the NZDUSD currency pair.

The NZDUSD will face its first resistance level at its intra-day high of 0.7755 which was reached on December 23rd 2014. A breakout above this level will take the NZDUSD to its intra-day high of 0.7807 which was recorded on January 19th 2015. This level marked the high of a drift to the upside before resuming its corrective move. The final resistance level is located at its intra-day high of 0.7889 which was reached on December 15th 2015.

The following economic data out of New Zealand already impacted the base currency, the New Zealand Dollar, of the NZDUSD currency pair:

Consumer Price Index for the fourth-quarter of 2014:
• Expectations: A quarterly reading of 0.0% was expected for the fourth-quarter, an annualized increase of 0.9%
• Previous Report’s Data: A quarterly increase of 0.3% was reported in the third-quarter, an annualized increase of 1.0%
• Released Data: A quarterly contraction of 0.2% was reported for the fourth-quarter, an annualized increase of 0.8%
• Impact on the New Zealand Dollar: The lower than expected reading on fourth-quarter inflation has failed to apply downward pressure on the New Zealand Dollar; this favors binary call options in the NZDUSD 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 NZDUSD currency pair:

Building Permits & Housing Starts for the month of December:
• Expectations: A monthly increase of 0.8% in building permits is expected for December, an increase of 1.2% in housing starts
• Previous Report’s Data: A monthly contraction of 3.7% in building permits was reported in November, a contraction of 1.6% in housing starts
• Impact on the US Dollar: The expected increase in building permits and housing starts is unlikely to suffice to pressure the US Dollar to the upside which favors binary call options in the NZDUSD 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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