FxWirePro: AUD/CAD bearish set up from double top - speculate with one touch binary delta puts

Both Intraday and EOD charts pop up selling signals in this pair that may slide down it to levels of 0.9744.

As shown in the intraday charts, the pair forms double top with peak 1 at 0.9811, peak 2 at 0.9820 and neckline at 0.9740.

The bearish candles have been flooding from yesterday as a result of "Gravestone Doji and Spinning Top" occurred at 0.9774 and 0.9805 respectively.

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 maintaining even near 20 levels which is an oversold region.

We reckon since the spot FX slid below 10DMA that would drag more slumps up to neckline at 0.9740, upon breach of neckline may even drag levels to 0.9599.

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.