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EUR/USD Signal - Deutsche Bank Shares - 03 Oct 2016

Signal details
Entry Price: 
1.1220
Close Price: 
1.1212
Direction: 
High
Expiry Time: 
20:00 GMT
Result: 
OTM
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Despite the fact that the whole fiasco connected with the Deutsche Bank shares drop was seen as bearish for the EUR/USD before the end of the week, after an upside reversal in almost the last moment in the price of the German lender's shares, the European currency rose from its week’s low (which was at the point of 1.1150) to its current price which is at the 1.1231 level right now.

Another aspect of the current situation that can be seen as bullish for the EUR/USD is that the German government would most likely help the bank to get back on its feet and consequently strengthen the euro.

Regarding the previous mentioned facts and hypothesis, we could conclude that the pair would keep exploring the 1.1220 – 1.1230 zone today. That means that it would be appropriate to buy daily calls at the target price of $1.1220 for a daily expiration at 20:00 GMT.

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.