EUR/USD- Binary Options – Weekly Analysis
Contents
Fundamentals
The positive reaction in EURUSD after Macron won the first and second round of the French Presidential election is fading this week, report Binary Options Brokers. The pair has initially gapped 200 pips higher and traded another 200 up over the past two weeks, however, the move was overextended and now EURUSD is some 150 – 160 pips off the high at 1.1021.
The pair is likely to stay range bound in the near future, analysis of Binary Options Brokers show. The main focus of traders and investors is now on the ECB meeting in June where they expect the central bank to turn more hawkish amid the improvements in the Eurozone economy. Until then, EURUSD is unlikely to surpass the high of 1.1020, hence it’s a good opportunity to trade the pair via binary options.
It’s important to find a good binary options broker as a guarantee of good service. You can open a call binary option position for example with an expiry beyond June 8 (ECB meeting). If the ECB really does turn more hawkish it will cause a sharp jump in EURUSD probably taking it above 1.11 – 1.12.
If on the other hand, the bank is more dovish than expected, then EURUSD will fall providing an opportunity to trade it with a put binary option.
Technicals
EURUSD is sitting just above the support zone at 1.0760 – 1.0820 (blue area on the chart). The Binary Options brokers’ analysis suggests EURUSD is likely to bottom out near current levels (1.0870) or near the specified support zone.
To the upside, the upper border of the channel is resistance at around 1.10. This suggests that EURUSD is likely to stay range-bound between 1.0820 and 1.10. Opening a call option position at support and a put option position at resistance would be a good a binary options strategy.
You can choose some of the best binary options brokers to enhance your trading experience.
Our Recommended Binary Options brokers to trade EURUSD:
Best Regulated Broker
IQOption is the world’s leading EU regulated broker based with a revolutionary platform for all traders. Read IQ Option UK Review
- Best Trading App for Binary Options
- Minimum Deposit of only $10
- Minimum Trade of $1
- Trusted Broker
- $10,000 Virtual Funds ( Demo Account )
- Quick Withdrawals
- Outstanding Platform
- Weekly Tournaments
- Gain up to 98%*
Top Uk Broker
HighLow is a Top binary options broker in UK with a simple trading platform and free demo account. Read High Low Review
- Fast Withdrawals
- Only £50 Minimum Trade
- Regulated Broker by ASIC-Australia
- Bonus £50 Cask-back
- Free Demo
- Up to 200% Return
I've been a professional trader for over 5 years.
Currently I work as forex analyst for different investment companies.
- EURUSDWeekly outlook – 7th January 2022 - January 7, 2022
- BTCUSD – Weekly outlook for Bitcoin Price – 23rd December 2021 - December 24, 2021
- USDSGDWeekly outlook for Singapore Dollar – 17th Dec 2021 - December 17, 2021
