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EUR/USD binary signal - U.S. Retail Sales data - 14 Mar 2018

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Signal details
Entry Price: 
1.2400
Close Price: 
1.2366
Direction: 
Low
Expiry Time: 
21:00 GMT
Result: 
ITM
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5/5 of 5 ratings

The U.S. retail sales data will be released today at 12:30 GMT. According to the economists polled, headline retail sales are forecast to rise 0.3% on the month in February. This would reverse the declines of 0.3% registered in the month of January.

Core retail sales which exclude auto sales are forecast to rise 0.4% on the month after posting a flat print in the month of January. Overall, the retail sales report is expected to paint a picture of consumer spending in the month of February.

Besides the retail sales data, the U.S. producer prices index report will also be coming out. Producer prices are tipped to rise solidly with the core PPI forecast to rise 0.2% on the month, slower than January's 0.4%. Headline PPI is expected to rise 2.8% on the year, rising slightly from 2.7%.

Besides economic data from the U.S. the ECB President Mario Draghi will be speaking today at the ECB Watchers conference. Investors will be watching for any clues from the ECB President on monetary policy.

Today's binary signal is EURUSD, the currency pair was seen posting strong gains on the day as it edged higher. However, with price now trading a key price level marking the march 8th open at 1.2409, we expect to see the momentum in price stalling.

Therefore, we are looking to buy daily PUT options in EURUSD at 1.2400 for a 21:00 GMT expiry time. Although the euro currency looks to be trading stronger, we expect that the greenback will resume its strength in the backdrop of the U.S. economy data and Draghi's speech. This could potentially lead to the EURUSD closing lower on the day.

binary options signal eurusd 14 mar 2018

Comments

kamal1956's picture

Dear Sir
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kamal1956
Toni H.'s picture

We don't sell signals, it is free app.

Toni H.

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.