EUR/USD Binary Technical May 22nd 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 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: 1.2655 to 1.2867.
  • Further levels in both directions: Below, for PUT Options: 1.2735, 1.2714, 1.2677 and 1.2655.
  • Above, for CALL options: 1.2799, 1.2820, 1.2850 and 1.2867.
  • Very important support, at 1.2820. Not too far away.
  • Very important resistance is at 1.2655, still further away.
  • 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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