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OPTIMISM RULES THE USD AND THE S&P. DOES IT RULE YOU ??

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By: Adam Stone
July 7th 2014 4:24am GMT, London UK
 

The new week of trading will begin with much on the mind. For optimists there will surely be loads of good news to dig into after the long 4th of July weekend. The NFP report, which showed a better than expected increase in the number of Americans to find a job in the previous month, got things going already back on Thursday. But most American traders weren’t in on the action due to the holiday on Friday and momentum will likely pick up where it left off on Friday, at least in the case of US stock indices. The S&P closed the session on Thursday, up over 0.55% to 1985.

For binary options traders, now is the time to get involved with US stock indices. The opportunity is very clear now with the 2000 level looking to be attacked today. We are pretty sure that the level will be tested sometime before mid-session and if a break will make its way into the market, their should be ample follow-through to allow binary options traders to take UP options on the break for end-of-day options. With breaks of this magnitude, it is very important to maintain very vigilant as it could turn out to be a very fast and furious move above the 2000 level today. Binary options traders need to get their trades in early and doing so without much need to try and take advantage of reversal strategies.

SP Index with bianry options 7-7-2014

OF course, if you see the market test and re-test the 1999.7-1999.9 levels, then we would recommend starting to creep in with some reversal trades but with rather small and short term trades. The risk level is high with such strategies today and the better option is certainly a break based strategy. Not always is this the case, but seeing as how geo-political concern seems to have abated despite the tension in Israel and the chaotic advance of ISIS in Iraq, it looks as though optimists are unable to let the pessimists in today.

If the USD is any indication, then we are certainly right. The optimists have been pushing higher the USD just as much and at the moment, after testing the 1.35 level previously only on the 5th of June, it could be that this week we see yet another move towards the level for the forex pair. Binary options traders will want to look towards down options today with the EUR/USD with both short and long term strategies centering around the general downward direction.

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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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