EUR/USD Binary Technical June 6th 2012

The EUR/USD, isn’t the first pair that comes to mind for technical analysis, but today there are some interesting possibilities for technical trading on this pair. To assist in analyzing the next few days here is our technical setup.

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Here are the support and resistance lines the could produce great binary option trading opportunities:

  • Current range: 1.2321 to 1.2573.
  • Further levels in both directions: Below, for PUT Options: 1.2388, 1.2368 and 1.2321.
  • Above, for CALL options: 1.2499, 1.2535  and 1.2573.
  • Very important support, at 1.2535. there are a few steps before that.
  • Very important resistance is at 1.2321, might be closer than appears.
  • Chart is on a 1 hour scale.

Click here to enlarge the graph.

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These expected market reactions and setups are general market commentary. This is by no means any type of investment advice.

The data for these news events has been analyzed given previous releases and reactions, current market conditions and more. Significant surprises to market consensus, as given by surveys of economists, normally trigger sharp market reactions that proceed for a long period of time. When some events collide with each other, they can offset each other. So, these events aren’t in the list.

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