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USDCAD BINARY CALL OPTION – FEBRUARY 26TH 2015

BITCOIN 781.950 11:20 03.12
BitCoin/CNY 5382.550 11:20 03.12
BITCOIN 782.045 11:00 03.12
BitCoin/CNY 5383.210 11:00 03.12
BITCOIN 782.136 10:40 03.12
BitCoin/CNY 5383.835 10:40 03.12
BITCOIN 782.186 10:20 03.12
BitCoin/CNY 5384.175 10:20 03.12
BITCOIN 782.498 10:00 03.12
BitCoin/CNY 5386.325 10:00 03.12
BITCOIN 780.288 09:40 03.12
BitCoin/CNY 5371.115 09:40 03.12
BITCOIN 781.315 09:20 03.12
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By: Adam Stone
February 26th, 2015 6:51am GMT, London UK
Today’s Binary Options Trading Strategy:
• Currency Pair: USDCAD
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary call options on dips below 1.2440
• Upside Potential: The upside potential for this binary call option is 355 pips to 1.2795
• Downside Potential: The downside potential for this binary call option is 140 pips to 1.2300The USDCAD has retreated sharply after reaching an intra-day high of 1.2663 on February 24th 2015; this level is where the descending resistance level exercised downward pressure on this currency pair. The move came after Bank of Canada Governor Poloz spoke in London, Ontario. The move to the downside was halted by its ascending support level which formed due to the intra-day low of 1.2400 which was reached yesterday on February 25th 2015. The USDCAD is now trapped inside a triangle formation from where a move to the upside is favored.
USDCAD bainry call option graph for the 26th Feb 2015

 Price action is currently trading at the top its horizontal support level as downward pressure is fading away. The USDCAD is expected to trend sideways until the ascending support level will accelerate this currency pair to the upside. Binary options traders can take advantage from the anticipated advance with binary call options. Today’s binary options trading strategy suggests call options to be placed on dips below 1.2440 for a risk/reward ratio of 1.0/2.54.

The USDCAD enjoyed a trading environment will low volatility during its move to the downside, but as price action has reversed down to its ascending support level, which is enforcing its horizontal support level, an increase in volatility should be accounted for. Sellers may attempt to take the existing downward momentum and force a breakdown below its enforced horizontal support area; this is not likely to extend below its current intra-day low. Buyers are expected to take advantage of this enforced support level and accelerate to the upside. This favors binary call options in the USDCAD currency pair.

The first resistance level awaits the USDCAD at its intra-day high of 1.2554 which was reached on February 19th 2015. This level marked the high of a previous drift to the upside. A breakout above this level will take the USDCAD to its descending resistance around the 1.2610 mark from where a further breakout will clear the way to its intra-day high of 1.2697 which was recorded onFebruary 11th 2015. The final resistance level is located at its intra-day high of 1.2799 which was reached on January 30th 2015 from where the descending resistance level originates.

The following economic data out of the United States is expected to impact the base currency, the US Dollar, of the USDCAD currency pair:
Consumer Price Index for the month of January:
• Expectations: A contraction of 0.6% is expected for the month of January, an annualized contraction of 0.1%
• Previous Report’s Data: A contraction of 0.3% was reported for the month of December, an annualized increase of 0.8%
• Impact on the US Dollar: The expected deflationary reading out of the US CPI is likely to apply downward pressure on the US Dollar which favors binary call options in the USDCAD currency pair

In addition the following economic report out Canada is expected to impact the quote currency, the Canadian Dollar, of the USDCAD currency pair:
Consumer Price Index for the month of January:
• Expectations: A monthly contraction of 0.4% is expected for January, an annualized increase of 0.8%
• Previous Report’s Data: A monthly contraction of 0.7% was reported in December, an annualized increase of 1.5%
• Impact on the Canadian Dollar: The anticipated slowdown in the annualized CPI out of Canada is likely to be overshadowed by the deflationary reading expected out of the US CPI; this favors binary call options in the USDCAD currency pair

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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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