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.
As a result of last week’s decline EURUSD exchange rate reached 1.1870, where yesterday a demand response occurred. As a result of later gains, the market reached vicinity of local resistance set by low of the previous downward impulse. Although this level has already been defeated on Wednesday, only now we witness first re-test. Rejection of this zone could open the way to recession. In short term, therefore, it is worth considering PUT option on this instrument.
Bearish scenario is supported by the fact that due to yesterday’s declines was broken bullish trend line.
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