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By: Adam Stone
January 15th 2014 6:10pm GMT, London UK
Binary options traders start the day today with thoughts of optimism and forward motion. The US markets closed yesterday’s session in the black and finally erased Monday’s dramatic drop. It’s hard to say what the defining attribute of this rally is, but what is clear is that the markets aren’t interested in finding reasons to sell-off. The worry concerning the Fed’s tapering is now in a sense behind us. Binary traders need worry only about a faster pace of tapering but that seems to be a few months off. It looks as though the Federal Reserve isn’t going to put too much emphasis on December’s miserable NFP report and despite not even coming close to the 200k threshold, will continue the tapering process. This should provide impetus to the markets in fact. As if the Fed still feels secure in this tapering process despite the terrible reports, then its testament to a stronger than otherwise perceived economy.

The S&P closed the session at 1848 after rising over 0.52%. The index actually managed to provide a break above 1850 only to retreat below the level. The actual resistance was located at 1848.36 and despite the break, probably didn’t allow binary options traders to close the day with a profitable trade. This can’t be described as a false break as the closing price was in fact above the previous resistance level. However, in practical terms, a trade here would have best case ended in a tie for most traders. However, the stats for this index are simply unbreakable and we’ve now recorded the 75th break with only 4 false breaks for the index for daily close based breaks.

This is simply amazing and for binary options traders it means more way to make profits in a tough market. So for today, binary traders should look and focus on strategies to take strong breaks. With the S&P, a break above the current resistance at 1849 now will allow binary options traders to take Up options with what looks to be a very low risk trade. So while the break strategy looks very favorable, we do not recommend employing reversal strategies as they will cause potential losses on a repeated manner of trading.

SP index with binary options 16-1-2013
The EUR/USD, the most popular trading asset with binaries today, is still stuck in a range and looks to have no means of braking loose. To take advantage of this range, binary traders can employ reversal strategies in hopes of catching the market on the edges of the range. The upper boundary of the range remains at the 1.3710 level while the lower boundary is 1.3555.

Look for a test of either level and go the opposite direction on any test

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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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