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By: Adam Stone
June 11th 2014 6:05am GMT, London UK
Binary options traders will start this new trading day probably with a bid of head scratching as the equity markets in the US closed the session at or near break even levels for the day. It’s all a bit surprising considering the moves made by the indices in recent days by plowing through records, day after day. It’s not all the surprising of a move though considering the mathematics and statistics of it all. The Fibonacci supports have thus far been supported and it will be hard to imagine they suddenly be broken despite the lack of momentum in the markets at the moment.

As such, binary traders may find themselves seeking a simple break strategy to either direction today. The neutral readings on the momentum indicators allows us to take up or down options on any move or break seen today above or below the supports/resistances. The current levels of interest are now 1945 for the supports and the 1956 as the resistance.

A break of either level today will usher in binary traders en masse. Problem is, it’s very likely not to occur due to a lack of news or other inertia building events expected for the day. A lack of news releases today will likely keep equities well within the range so keep a keen eye, but expect little from the S&P today.

SP with binary options 11-6-2014

In the forex markets, after yesterday’s drop in the EUR/USD which fell from 1.3590 all the way down to 1.3520. The move yesterday was rather sudden and this recent rise in the USD’s value will likely lead to more moves lower for the forex pair. Binary traders can try to take advantage of the next move lower by taking down options on any move below 1.3505 which is the Fibonacci retracement support. Any move lower is likely to be limited though as there is a band of support just below this level at 1.3490 and as such, follow-through on a move lower might be capped. Look for shorter trades on a move below this support and keep your trades smaller than what ordinarily would be taken on a verified break. Such breaks, as this potential one, need to be taken advantage but don’t fail to use great caution.

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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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