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USD/JPY AND EUR/USD IN FOCUS

BitCoin/CNY 6349.755 09:00 24.01
FTSE F-MAR17 7091.500 09:00 24.01
USD/RUB 59.148 09:00 24.01
USD/NOK 8.35090 09:00 24.01
USD/CHF 0.99882 09:00 24.01
OIL-MAR17 (BRENT) 55.585 09:00 24.01
SBERBANK 168.830 09:00 24.01
GAZPROM 149.230 09:00 24.01
NZD/CHF 0.72218 09:00 24.01
CAD/CHF 0.75336 09:00 24.01
NZD/USD 0.72303 09:00 24.01
CAD/JPY 85.407 09:00 24.01
AUD/USD 0.75683 09:00 24.01
AUD/JPY 85.697 09:00 24.01
GBP/USD 1.24934 09:00 24.01
EUR/USD 1.07478 09:00 24.01
TADAWUL 7081.200 09:00 24.01
VTB BANK 0.068665 09:00 24.01
ROSNEFT' 388.950 09:00 24.01
OIL-FEB17(WTI CRUDE) 52.550 09:00 24.01
SILVER 17.145 09:00 24.01
GOLD/EUR 1129.375 09:00 24.01
USD/JPY 113.236 09:00 24.01
EUR/JPY 121.703 09:00 24.01
GOLD VS OIL 21.8394 09:00 24.01
USD/CAD 1.32582 09:00 24.01
S.BANK INDIA 255.775 09:00 24.01
AXIS BANK 448.900 09:00 24.01
TATA STEEL 464.325 09:00 24.01
TATA MOTORS 541.725 09:00 24.01
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By: Adam Stone
June 3rd 2014 5:34am GMT, London UK
 

Binary options trading begins the day on a high note with many assets heading higher, some more dramatically than others. We start with the forex market where the EUR/USD and USD/JPY made quite a bit of a racket. For the EUR/USD, the day was a volatile one to say the least. Thing started off very positive for the USD as the EUR feel from 1.6340 at the start of the session to about 1.3588 by the midway point. However, then things began to balance out and the forex pair slowly crawled higher and into the middle of the current range of trading: 1.3590 – 1.3615.

This range looks rather shaky though and as such, binary options traders should steer clear of reversal strategies today or at the very least, limit them severely to those tests in which the market really does make a physical touch of the resistances/supports in question. Without this, the risk level heads higher and endangers your account status.

Break strategies aren’t going to do much better despite the big move made by the USD yesterday. The calm after the storm seems to have pushed the USD bulls out of the market and into lower risk assets (possibly the USD/JPY). As such, don’t expect that the days leading to the NFP report (this Friday at 12:30 GMT) will have much more of a bias than has already been seen.

As such, binary traders will do well to keep tabs on the EUR/USD forex pair but don’t expect much to help push the currency pair over the edge and thus offer real break opportunities. This is especially try due to the lack of news in the US markets until at least tomorrow.

EURUSD with binary options 3-6-2014

The USD/JPY has created a stable top or resistance now at the 102.46 level and support is now a bit fragmented but hovering near the 102.28 level. This range is again tight and could suffer the same fate as the range we described in yesterday’s analysis. The expected break should not surprise you either and today could see the support below tested. Binary options traders will do well to gauge momentum of any trade prior to entry as risk levels due to the push out of the EUR/USD yesterday could lead to some further volatility. But directional bias is now rather neutral. We prefer an upside break due to the far lower risk levels associated with a break in this direction as the resistance in this case is a clearer and more classic formation.

USDJPY with binary options 3-6-2014

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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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