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FxWirePro: AUD/CAD forms double top, rejects resistance at 0.9955 - speculate with one touch binary delta puts

Both daily and intraday charts pop up selling signals in this pair that may slide down it to levels of 0.9861 back again (neckline).

As shown in the intraday charts, as the pair seems unlikely to break and sustain 0.9955 after rejecting today's highs at 0.9943 and dropping back to current levels of 0.9935 all our leading oscillators signals bearish signals.

The RSI oscillator signals clear selling continuation as there exists a clear downward convergence with the steep declining prices.

While strong selling pressure is on that is signaled by slow stochastic curve as %D line crossover has been traced out above 80 levels which is an oversold region.

We reckon even though bullish rallies attempting to reach resistance the spot FX has been well below 21DMA that would indicates drag more slumps up to neckline at 0.9861 when we compare this selling momentum with oscillators signals, upon breach of neckline may even drag levels upto 0.9780 in faster pace.

On speculation basis we recommend buying one touch binary vega puts in order to derive maximum leverage benefits. By employing these ATM binary vega puts one can multiply the returns by twice, thrice or even pour returns unimaginably. But do remember this call is strictly on speculative grounds.

The prime merits of such one touch option spreads are high yields during high volatility plays, so one can use spreads as well when IV picks up during US sessions.

Wider spreads indicates lack of liquidity. The spreads for one touch AUD/CAD options are constant time and barrier levels.

Usually, such binary options for every change in 1 pip the relative change in option price 0.01% or even exponential at high implied volatility times.

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