EURUSD Intraday Binary Options Strategy: Aiming for a Tight Range

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EURUSD Technical Analysis

EURUSD is continuing to provide attractive levels for binary options traders. We are conducting our technical analysis on the hourly chart and outline the key levels that may be used for trading binary options.

EURUSD 60 Minutes chart

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EURUSD 60min Chart 09/08/15

EURUSD 60min Chart 09/08/15

EURUSD Trading Strategy

We will begin with the 15min resistance at 1.0975. Due to economic data released from China over the weekend we are uncertain if the resistance will hold but if it is tested by the market and a 15min close is noted below 1.0975 the bears are likely to enter Euro Dollar and press the price towards its nearest support at 1.0952. If the re-test occurs during the Asian session we believe a 30min expiration may be sufficient. Alternatively, if EURUSD is able to break above 1.0993 that may pave the way for 1.1024. Multiple entries are likely to be provided on the 15min chart. If the price re-tests 1.0993 after break above and remains above, binary options traders may execute call (high) options, a 60min expiration would be our preferred choice. A break above 1.1024 may force the technical indicators overstretch, which may not be a comfortable scenario to trade.

In a scenario where the 1.0952 is tested by the market that may only occur if EURUSD gaps higher and then retraces lower there is a fair possibility the price may attempt to break above 1.0975 (15min resistance) and aim for 1.0993. Upon a re-test of 1.0952 multiple time expiration may be used by coordinating the entry with the 15min chart, ranging from 5min to 60 minutes.

A break below 1.0952 may indicate further selling in Euro Dollar but would not provide a clean entry. In such a scenario traders must wait for a re-test of the latter support at 1.0931, which is expected to act a strong support level. An hourly close is required to affirm a successful re-test has taken place. The expiration for call binary options may range from 30 minutes to two hours if possible.

A break below 1.0931 may again suggest further weakness is due but is unable to provide a neat, technical entry. The latter support (diagonal black line) is required to be tested via an hourly close to suggest corrective gains are expected. The rebound off the support like to be strong, which may give access to a range of time expiration from 5min to possibly End of Day. Only  break below the support (diagonal black line) may provide a firm technical confirmation further selling may be seen in the Forex market. If the breaks below and re-tests the breached support (now resistance), selling-on-dips strategies may be exercised on the 15min chart. The target of the weakness in such a scenario would be 1.0874.

We should highlight the EURUSD painted a reversal pattern on the hourly chart. However, as the pattern was painted under thin market conditions we are uncertain of the quality of the signal.

EURUSD 60min Chart 10 August 2015

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EURUSD 60min Chart 10/08/15

EURUSD 60min Chart 10/08/15

As you may note multilple entries were given from chart based on our intraday strategy. 1.0975 resistance gave multiple put options while 1.0931 gave a clean, technical entry for call options.

EURUSD 60min Outcome

Below is the outcome of Euro Dollar intraday binary options strategy. As you may see we believe we were rather successful in predicting the key levels in the Forex market.

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EURUSD 60 Minutes Chart 10/08/15

EURUSD 60 Minutes Chart 10/08/15

When EURUSD strategy was published it was only available to traders that have signed up for our intraday strategies plan.



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