Binary Options Gameplan – 07-07-10

The most interesting instrument in the spotlight is definitely the EUR/USD, which is dragging all other instruments with it, like Gold and U.S. stocks.

Looking at a technical analysis of the EUR/USD, a very impressive Inverse Head and Shoulders chart pattern followed by a Bull Flag consolidation is highlighted in the daily chart below. This will lead to higher prices in the short term. But before the prices move higher, the Slow Stochastic analysis (below the chart) which is currently OverBought (above 80) must move back below 80 out of Overbought territory.

Break out of the Head and Shoulders upwards can be a trigger for buying a Binary Call Options. Failure of this currency to rise with the Stochastic overbought level can be the trigger for a trend reversal downwards and buying Binary Put Options.

Click on the Chart to enlarge:

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