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USDCHF – SEPTEMBER 2ND 2014

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
September 2nd 2014 5:30am GMT, London UK
 

Today’s Binary Options Trading Strategy:

• Currency Pair: USDCHF
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary put options on rallies above 0.9200
• Downside Potential: The downside potential for this binary put option is 160 pips to 0.9040
• Upside Potential: The upside potential for this binary put option is 50 pips to 0.9250

The USDCHF has enjoyed a strong move higher over the past eleven trading days, but during the rally this currency pair has formed a rising wedge formation. The USDCHF can trace this rally back to an intra-day low of 0.9023 reached on August 17th 2014 and the rally created an intra-day high of 0.9207 today on September 2nd 2014. A small sideways trend has developed over the previous six trading days, but in line with its chart formation.

USDCHF

Price action has formed a rising wedge formation, a bearish chart pattern indicative of a pending trend reversal, in this currency pair from overextended levels. Binary options traders can take advantage from the pending trend reversal with binary put options. Today’s binary options trading strategy suggests put options to be placed above 0.9200 for a risk/reward ratio of 1.0/3.20.

The USDCHF has developed a minor sideways trend since August 25th 2014 with a slight drift higher. This suggest that buyers are stepping aside which could invite a barrage of sell orders which could pressure this currency pair down to the ascending support line of the rising wedge formation. A breakdown is expected to result in an increase in volatility which will fuel the move lower. This favors binary put options in the USDCHF currency pair.

The pending reversal is expected to accelerate once the ascending support line has been cleared to the downside and next support for the USDCHF lies at 0.9103 which is an intra-day low reached on August 22nd 2014 and represents a level where a previous reversal was halted before the USDCHF moved higher. A successful breakdown below this level is expected to take the USDCHF to the 0.9033 level which is an intra-day low reached on August 8th 2014.

The following economic data out of the United States is expected to impact the base currency, the US Dollar, of the USDCHF currency pair:

Institute of Supply Management Manufacturing Index for the month of August:

• Expectations: A reading of 56.8
• Previous Report’s Data: A reading of 57.1
• Impact on the US Dollar: The slowdown in the US manufacturing sector is expected to put downward pressure on the US currency which favors binary put options in the USDCHF currency pair

In addition the following economic report out Switzerland is expected to impact the quote currency, the Swiss Franc, of the USDCHF currency pair:

Gross Domestic Product for the Second-Quarter of 2014:

• Expectations: Quarterly GDP growth of 0.5%, annualized GDP growth of 1.6%
• Previous Quarter’s Data: Quarterly GDP growth of 0.5% in the first-quarter, annualized GDP growth of 2.0%
• Impact on the Swiss Franc: The expected annualized decrease in Swiss GDP is expected to be overshadowed by the deceleration of the US manufacturing sector which favors binary put options in the USDCHF 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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