The U.S. dollar continues to remain range bound as a result. Today's binary options signal recommendation is USDJPY. The currency pair is seen currently trending weaker and we expect some near term downside.
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Today's consumer confidence data could see officials watching the numbers closely for any signs of a slowdown. The binary options signal recommendation for today is the EURUSD. The currency pair closed bullish yesterday after posting a low of 1.1126. The bullish close and the reversal near 1.1150 signals that a near term rally is on the cards.
Yesterday, the EURGBP reversed the declines below 0.8756 and posted a bullish close. However, the fact that this has resulted in lower high could mean that there will be some strong downside in prices. There is also the possibility for EURGBP to extend the gains towards 0.8850, marking the previous high that was formed on June 12 and 13th.
A weak PPI data today could signal some weakness in the euro. Therefore, our recommended binary options signal for today is EURUSD. EURUSD opened this week higher but on Monday, it closed with losses. The weakness is expected to continue in the EURUSD as various Fed officials are likely to come out hawkish on the Fed's monetary policy.
For the near term, the British pound is seen to be bullish due to the fact that the Bank of England could hike interest rates, but nothing is certain just as yet. For today's binary options trade signal, we recommend CALL options in EURGBP.
The currency pair has been rising strongly in the past few weeks, but after the ECB meeting which was dovish and the Fed which maintained a hawkish stand, the EURUSD continued to fall. Price action has extended below $1.1200 yesterday despite briefly spiking to $1.1300 during the Fed's decision.
The BoE previous flagged the downside risks of such a scenario which is playing out. As a result, today's dovish BoE meeting is likely to weigh on the British pound. Therefore, today's binary options trade recommendation is EURGBP.
The Fed's view on interest rates will be critical for the markets, which are currently expecting the Fed to go easy. There will also be an announcement about the Fed's intentions on reducing its balance sheets.
The British pound has managed to weaken against the euro on account of the possible delay to Brexit and the uncertainty. A better than expected inflation figures will only influence the British pound to a certain extent. With the gains in EURGBP, we can now expect to see some retracement in the near term.
From a technical perspective, EURUSD is expected to see some downside with the break out from the wedge pattern. In the near term, EURUSD could be seen retesting back to 1.1236 which marks the break out level. Following this retracement, we can expect the downside to follow through.
For today's binary options signal, we recommend daily CALL options in EURGBP at 0.8764 for 20:00 GMT expiry time. With still a bit more votes left to count, the EURGBP has scope to rise, making EURGBP CALL options ideal at 0.8764, as price action is likely to rise for the rest of the day.
Our binary options trade recommendation is to purchase PUT options for a 20:00 GMT today. With EURUSD supported above 1.1250, we expect to see some upside momentum before the common currency could fall.
Our binary options trade recommendation is for the EURUSD which is looking rather subdued. Following the strong gains posted in the past weeks, investors are likely to push the euro lower, booking profits and heading into tomorrow's monetary policy meeting.
The Australian dollar is seen maintaining the gains following the RBA's interest rate decision and the monetary policy statement. For today's binary options signals, we recommend AUD/USD PUT options for a 20:00 GMT expiry time. We would purchase PUT options at 0.7485, following which we can expect to see a decline towards the end of the day.
We expect to see some downside in the EURUSD as price action will pull back from Friday's highs to test the recently broken resistance level of 1.1236 being tested for support. Therefore, we would buy daily PUT options at 1.1275 for a 20:00 GMT expiry time for the EURUSD today.
Today's binary trading signal recommendation is to purchase daily CALL options in USDJPY. We expect to see the USDJPY supported to the upside with price action likely to post a modest pullback ahead of pursuing gains towards 113.00 eventually. Therefore, purchase CALL options at 111.50 for a 20:00 GMT expiry time.
Given the above, today's binary trading signal recommendation is to purchase daily PUT options in EURUSD. Following yesterday's continued push to the upside, the momentum is looking a tad weaker which suggests some downside in prices.
Today's trade recommendation is to purchase daily CALL options in EURUSD which is likely to turn bullish. The currency pair is also seen trading above the strong support level at 1.1160 – 1.1150. The eurozone's flash inflation estimates for the month of May will be released today at 0900 GMT.
For today's binary options signal recommendation, we suggest to purchase daily CALL options on USDJPY. While USDJPY has been weaker, we expect this could change. Therefore, look to purchase daily CALL options at 111.00 for a 20:00 GMT expiry time on a rebound off the support level at 110.80 that the currency pair is testing currently.
Today's binary options trading signal is EURUSD. With price, likely to push lower, we prefer daily PUT options for a 20:00 GMT expiry time. Look for EURUSD to post a modest bounce near 1.1170 where purchasing daily PUT options will be ideal as EURUSD is expected to close lower on the day.