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EUR/USD Signal - Deutsche Bank Bailout - 30 Sep 2016

Signal details
Entry Price: 
1.1180
Close Price: 
1.1232
Direction: 
Low
Expiry Time: 
20:00 GMT
Result: 
OTM
How we trade
4.5/5 of 4 ratings

The EUR/USD is looking bearish today as the prospects for a Deutsche Bank bailout by the European Union are likely to weigh on the Euro zone's single currency. The German government is likely to help the lender out over the weekend as the shares of the largest German lender are touching new all time lows.

We are looking at the 1.1180 level to buy daily put positions on this pair due to the relatively high likelihood that the trend which started this morning will continue into the weekend. The EUR/USD has printed a low of 1.1168 so far, but we don't see the pair stopping before it tests the 1.1120-30 area today or on Monday.

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.