The option for today is an analysis cycle for 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 Friday’s NFP readings, we observed a strong appreciation of US dollar as a result of which EURUSD currency pair broke upward trend line. According to my weekend projection, today the market deepened its uptrend correction began on Friday, and reached local resistance, converging with 38.2% of the Fibonacci correction from an earlier downward move, where first supply reaction occurred this morning. A permanent rejection of this level could open the way to further declines. In short term, therefore, it is worth considering PUT option on this instrument.
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