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 yesterday’s decision of the European Central Bank to keep interest rates unchanged and to curb quantitative loosening (QE) programs from EUR 60bn to EUR 30bn, we observed a strong depreciation of the European currency. These cuts led EURUSD to technical support at around 1.1690, which is the neckline of the bearish head and shoulders formation. From a technical point of view, in the near future we would expect continuation of declines to at least 1.1490. In the short term, therefore, it is worth considering PUT option on this instrument.
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