Option for today is a series of analyses for binary options in cooperation with the BDSwiss broker. Every day we present the best options PUT or CALL for selected financial instrument with its current technical analysis.
As a result of last two weeks of dynamic declines USDCHF has broken a significant support (resistance now) at 0.9850. Although these declines continued, yesterday a bullish reaction has emerged and has created a doji candle. Considering that the already mentioned 0.9850 level has not yet been tested from the bottom (as a resistance) and is currently in area of 38.2% of Fibonacci correction, we should expect at least an deep bullish correction in near term.
Looking on 30 minute chart, after yesterday’s dynamic growth market is moving in a consolidation, with its lower limit at 50% Fibonacci correction zone. So in near future if market breaks up, we could expect continuation of this trend. It is therefore worth considering CALL option on this instrument.
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