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S&P AND USD/JPY WITH BINARIES TODAY

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By: Adam Stone
April 22nd 2014 9:15am GMT, London UK
 

Now that the Easter holiday is behind us, what is left for binary options traders to decipher is the true trend of the equity and forex markets, primarily those in the US. After most of March and the beginning of April was besieged by pessimistic trading habits, the recent recovery of US stocks is a good sign especially seeing as how we are right in the middle of earnings season. With the first quarter of financial results under heavy scrutiny, the overall feel is that companies are reaching or even surpassing targets. While many may argue whether these so called targets are contrived or simply the work of soothsayers, it is still a benchmark being beaten and after such a long dry spell, winning is good.

Binary options traders are heading back into equities as can be discerned from recent spikes in index based volume. The forerunner amongst them is the S&P stock index which headed higher again yesterday while most of the world was out celebrating Easter (primarily in Europe and South America). The SP rose again by a figure of 0.38% and finished the day of trading above 1871, back on track to beat the 1900 level again. While we are highly skeptical of even a test of this resistance today, binary traders should keep the S&P in their watch lists for the time being. 1872 is the resistance level on a local level and aggressive binary traders should track this. A break above the level early in the session should equate to pronounced follow through for a move higher. We would therefor not expect any sudden negativity to push the index back below this level and as such, it should render any Up options in or around the break level, a successful trade.

Such trades are expressly what we seek as your personal binary options trading analysis team. But not ever trader likes equities or equity indices and we can respect this. As such, looking at the fast moving world of currencies, binary options traders may prefer today to take a close look at the USD/JPY. The forex pair broke above the resistance earlier this month at 103 only to retreat back to the very stalwart support at 101.25. The support level doesn’t look to be under any threat of breach any time soon. As such, savvy binary options traders have a few options:

1. Reversal Strategies in all their variations look rather positive today. Using the support as a pivot for the day looks to be the choice trade. However the problem with this is finding the patience necessary to wait out the false moves. As such, it might take a rather long time for a test to come about worthy of an up options.

2. Break strategies with local resistance levels in focus. This could spell trouble for the uninitiated as more than one break may be seen today with sudden retreats. Look for smaller and shorter trades in order to take advantage. Some of our analysts are actually using 5 minute (300 second options for such moves today)

USDJPY with binary options 22-4-2014

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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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