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EUR/USD binary signal - ECB president Draghi speech - 26 Jun 2017

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Expiry Time: 
20:00 GMT
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The president of the European Central Bank, Mario Draghi will be speaking later today at 17:30 GMT. The central banker's speech will be given in Portugal. The timing of the speech coincides with the U.S. data that includes durable goods orders.

In the U.S., the durable goods orders have been falling sharply for the past three consecutive months. For May, the core durable goods orders are expected to rise 0.4%, thus snapping a three month decline. Headline durable goods orders including defense spending, is expected to contract 0.5% on the month, following a 0.8% decline in the previous month.

The data is likely to keep the U.S. dollar slightly volatile. Later in the day, the ECB President's speech will be closely watched. It is unclear on whether the ECB President will speak about monetary policy, but any references could help shape the outcome in the EURUSD today.

At the previous meeting, the ECB left monetary policy unchanged. It also tweaked the GDP forecasts slightly higher while revising down the inflation data. The central bank managed to buck the pressure and said that it will continue with its easy monetary policy until it achieved price stability.

Therefore, the ECB could very well be on the right path to keep monetary policy unchanged. The EURUSD is therefore today's recommended binary options trading signal. Last week, the currency pair turned flat by Friday's close, closing in around $1.1200.

Currently, EURUSD is pushing lower. Therefore, we look to purchase daily PUT options in EURUSD at 1.1185 for a 20:00 GMT expiry time as we expect to see a weaker close in the EURUSD towards the end of the day.

binary options signal eurusd Jun 26 2017

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.