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GOLD/EUR 1090.185 08:00 06.12
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By: Adam Stone
January 14th 2014 7:00pm GMT, London UK

Binary options traders awake today to some interesting news and possibilities. Sure, it’s coming on the heels of a miserable day for stock traders in the US. The S&P fell hard yesterday probably mostly due to the terrible jobs data that hit the news wires on Friday. Why didn’t the markets drop this hard on Friday then? you may ask. Great question. The fact is, there’s no real way to know but what is abundantly clear is that the drop is somehow related to the bad news. In fact, despite a decent enough trading day yesterday in Asia, the reaction to the drop in the US, Asian shares dropped hard as well. The NIKKEI lost 2.3% this morning.

The S&P lost 1.26% for the day as the Dow dropped 1.09% and the Nasdaq fell 1.47%. The drop was sudden and dramatic with elevated levels of volatility felt across all markets, not just equities. The forex markets are just as jittery but rather stable in comparison. The EUR/USD remained entrenched in the range created over the last few sessions and is currently trading near 1.3668 with resistance just north of here at 1.3705. The markets are shifting focus back to the upside after some minor corrections.

Binary options traders would do well to keep focused on this upside potential as another test to the lower boundary looks very unlikely. With the downward pressure on the equity markets, the USD simply looks more vulnerable at the moment so look for the resistance to be tested sometime later today. With tests come the ability to utilize reversal strategies and take down options on each test of the upper boundary. If the level breaks, taking a large and longer term up option would be a great move. The momentum leading to such a break would be critical to keep focused on. If the RSI suddenly spikes, you are more likely to see a higher probability break and as such a higher probability to see a win on the trade.

It may seem odd to some traders to focus so much effort on just one trade. Our focus here in this daily analysis is to point traders to those opportunities that look most suitable to traders of all types. Learning to take advantage with pinpoint precision is what separates the best and most profitable traders from the rest. Don’t spread yourself thin over many less worthy trades.

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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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