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EUR/USD binary signal - Italian industrial production - 19 Mar 2018

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Signal details
Entry Price: 
1.2280
Close Price: 
1.2335
Direction: 
Low
Expiry Time: 
21:00 GMT
Result: 
OTM
How we trade
3.8/5 of 6 ratings

The markets start off on a slow note today ahead of a busy week. The economic calendar is light as a result. However, standing out among the events for the day, Italian industrial production and trade balance figures will be coming out at 10:00 AM GMT.

According to the economists polled, Italy's industrial production is forecast to decline 0.5% on a month over month basis in January. This follows December's industrial production figures that posted an increase of 1.6% on the month. This brought the annual increase in industrial production to 4.9% for the year in December.

The trade balance figures are also going to be released at the same time. Economists are forecasting that Italy's trade balance would narrow to 4.87 billion euro compared to 5.25 billion that was seen previously.

In December, the import price index was seen rising 0.4% compared to the previous month as the index increased 0.7% for exports with non-EU countries. On a quarterly basis, the import price rose 1.7% compared to the previous quarter with most of the gains in imports coming from non-EU countries which rose 3.2%.

Although today's numbers from Italy won't make a big difference the fact that the recently concluded elections in Italy and the state of the economy could have a longer term impact.

Based on the above, today's binary signal signal is EURUSD. The currency pair has remained stubbornly in a range and this is expected to continue.

Therefore, for us is ideal to purchase daily PUT options at 1.2280 for a 21:00 GMT expiry time. We expect to see price action post a modest pullback around this level before closing lower on the day.

binary options signal eurusd 19 mar 2018

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. He has no business nor personal relationships with any mentioned government entities or stocks. 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.