There are two strong technical trading setups binary option traders can enjoy in the coming days or weeks.

The first one is the eur/chf. (Please find chart attached).

After the Swiss Central Bank put to an end the 1.2 peg in the start of the year, meaning let the eur/chf trade freely in the open market and therefore let it plunge, there has been a technical uptrend.

The currency pair is trading on a solid uptrend channel and binary traders can enjoy bounces between support and resistance. As per chart, MACD suggests that momentum has cooled down while RSI seems to indicate an overbought area.

The second technical trade is Alibaba (Please find attached chart) which has just received strong support at $58 a share. This support area was determined a month and a half ago after the Chinese government devalued its currency and caused huge market volatility.

The support level at $58 is anchored to a descending triangle with resistance at around $62.

Binary traders need direction and expiry; these technical setups should be used in accordance to the ‘small move big profit’ tactic.