Good morning dear traders. Binary options signals from Investmagnates.com. Today’s signal for the EURUSD option.
First, we will pay attention to the news calendar of economic news. Two main news comes out on EUR/USD.
Sales in the secondary housing market in the United States
Existing home sales measure the annual level of existing residential buildings that have been sold during the past month.
This report allows you to analyze the strength in the US housing market, which helps to analyze the economy as a whole.
Higher-than-expected readings are seen as a positive/bullish direction for the USD, while lower-than-expected readings indicate a negative/bearish market for the USD.
Manufacturing PMI (PMI) in Germany
The German manufacturing PMI measures the level of activity of purchasing managers in the industrial sector.
Any values above 50 indicate an expansion of production, while values below 50 indicate a contraction.
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He points to well-being in the industrial sector in Germany.
Traders take a close look at these studies, as purchasing managers usually get early access to their company’s performance data, which can be a leading indicator of the overall health of the economy.
Higher-than-expected readings are seen as a positive/bullish direction for the EUR, while below-expected readings indicate a negative/bearish market for the EUR.
We expect this news to set the market in motion. We must also not forget about the global crisis, and the news that came out during the end of the week.
Technical analysis and option signal EUR / USD .
The price will move
upwards, tending to the level of 1.063
After that, we expect a downward correction and a return to the bearish trend.
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