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XOM and EUR/USD trading signals today

Binary trading which focused on stocks yesterday was probably concerned with the fact that US markets continued to head downward. Unless  traders expected such a downturn, earning based on profitable binary options trading on a day like yesterday would have proven difficult as no real trend was in place for stock indices.  The reason US stocks headed downward was due primarily to the fact that the Chinese lowered growth expectations for the economy. The expectation of a 7.5% would seems simply amazing for nearly any other economy in the world, but for the Chinese this is the lowest growth target since 2004 and is thus a sign of waning Chinese economic strength. The concern is that exports will slow and as a result, the growth engine of China will grind the entire global economy to a halt.

However, binary options traders need not be very concerned as there is no major news expected today. This should allow trading to remain focused on technical indicators and trading signals. As such, there are a few assets we are watching closely these days.

With the EUR/USD virtually unchanged over the last 2 days, we believe that it is time to utilize smart strategies with binary options. As such, we recommend trading “range options” today as the currency pair is in a range seen earlier last month. With range options, you as a binary options trader are taking a much higher risk trade. Truth be told, the brokers do a nice job of pricing these range options aggressively and thus allow traders to earn 300-600% on their investment. But take into consideration the actual boundaries of the trade that your broker prices in for the range option. Each broker can provide slightly different boundaries, and if those boundaries look to easy to reach in the time period (strike) of the option, move on to a different opportunity. The whole idea of range options is to make money in the market but still to take a calculated risk.

See the graph below, those are the boundaries in the market. So if the broker is providing significantly different boundaries, move on.

Binary options trading with EUR/USD 6/3/2012

Binary options trading with EUR/USD 6/3/2012

XOM is another possible trade of interest to binary options traders. We have been following this stock because of its reliance to higher prices of Oil. But with the stock rising yesterday, despite falling oil price, we are optimistic that the stock can push higher today past the 87.5 resistance. Any break of this level will allow binary options traders to take an ABOVE option. Remember that as with any stock trade you make with binary options, you validate the break prior to taking the option. Just put RSI and MACD on the graph and make sure that they are heading higher and not the other way around. IF they are signaling a reversal, do not use this trading signal and move on to another opportunity.

XOM with binary options today

XOM with binary options today

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