Binary options are available for a number of currency pairings. Different platforms offer different currencies. Some of the most popularly featured binary option currencies are USD, GBP, JPY, NZD, EUR, CHF, AUD and CAD. Choosing a currency pairing will depend on the types of research that you want to do and the duration of the trades that you select.
The Swiss Franc (CHF) is the fifth most traded currency on the globe. Switzerland’s economy has remained stable for a long time. The banking system is a preferred place for many to place excess cash and they hold the fourth largest reserves of gold of all countries. It is well documented that the Swiss Franc tends to hold its value when other currencies lose theirs.
The US Dollar has been extremely volatile over recent years. Recession and economic uncertainty have led to some traders being very wary of the USD. There have been a lot of savvy traders that have made a fortune trading the volume and volatility between the USD and other currencies.
Those trading USD/CHF binaries will keep a close eye on several influences on the rate. They will watch out for announcements from the US Federal Reserve and the Swiss National Bank about interest rates and other economic factors. They will analyze GDP releases, Unemployment figures, The US Manufacturers Purchasers Index and a lot more. On top of this they will study the charting patterns of the USD/CHF so that they understanding the trends, averages and signs of bullish and bearish trends. Completing all of this research will give them the chance of profiting on the USD/CHF binary options they trade.