Binary options signals for February 8
Signals for binary options are generated in different ways. Some prefer technical analysis, others fundamental. However, the essence remains the same. When to enter a trade, and which binary asset to choose for trading. We are often asked questions about how you determine where and what to trade today. We have already written about this in the article Binary Options How to decide what to trade?
Global news shows us that today we can expect an interesting movement in: EURUSD, EURGBP, USDJPY. Since these are the main assets for which news is being released today.
Let’s start with the EURUSD pair.
On the hourly chart, we see that the price is in the accumulation stage. Therefore, if there is news that affects the Euro, the price will go down sharply, the maximum to the level of 1.11 (Weekly low). After that, he must make a correction and return. We can be guided by the stochastic indicator. If it breaks through the upper limit, our scenario will work out with a high probability. After the rebound, we open trades upwards, on the fall in the price of the asset by the US dollar.
- Today we see the clearest signal in this asset. Trading on the fall of the British currency and at the same time the strengthening of Europe.
As you can see from technical analysis, the market is in the oversold stage, so determining the target for pivots (previous high)
is 0.75.
- USDJPY – the market is in a downtrend. Since trading is conducted intraday, the signal for this pair is a sale. The target is set at 116.92
It is important to understand and pay attention to the fact that world news, because war, or inflation in the camp can change the forecast. The more we rely on processes that we can improve and change, our results will improve.
The decision-making process in trading cannot be “very simple”. Binary options traders should learn to consider as many factors as possible. Fully understand the binary options strategy on which they work.
We wish you good luck
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