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EUR/USD Signal - Doubts About Fed Rate Hike - 19 Sep 2016

Signal details
Entry Price: 
1.1175
Close Price: 
1.1177
Direction: 
High
Expiry Time: 
20:00 GMT
Result: 
ITM
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The EUR/USD has been slowly grinding higher in thin trading with the pair driven by some order flow betting on the odds of a rate hike by the Federal Reserve in the coming months. The probability of a hike in September is currently very minimal, however the expectations that the Fed will still raise rates in December have been driving the pair lower.

Looking at the close today, we are expecting that the EUR/USD will close higher than 1.1175, which is the current price level. Buying daily calls is backed by some support in the 1.1170-75 area where foreign exchange market traders are looking to buy on dips, charging the euro higher towards the 1.1200 area.

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.