The option for today is a series of articles about binary options in cooperation with uTrader broker. Every day we present the best PUT or CALL options for a selected financial instrument along with its current technical analysis.
EURCAD – as a result of lasting increases since last Wednesday, the market has reached the area of previously defeated support (now resistance), where the first supply reaction appeared the next day. Nevertheless, this zone was not rejected at that time. Yesterday we watched its second re-test and once again there was a supply reaction. Currently, the price fluctuates around local support, the defeat of which may open the way for further declines. In the short term, therefore, it is worth considering PUT option on this instrument.
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