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EUR/USD Signal - Dovish Fed - 26 Aug 2016

Signal details
Entry Price: 
1.1300
Close Price: 
1.1193
Direction: 
High
Expiry Time: 
20:00 GMT
Result: 
OTM
How we trade
5/5 of 1 ratings

In the past two days the EUR/USD has been exploring the 1.1240-1.1310 area. We expect for the pair to rally in the coming hours. This assertion is made considering the latest rhetoric coming from Federal Reserve officials which leads to the assumption that Janet Yellen (Chair of the Board of Governors of the Federal Reserve System) won't hint an interest rate hike for September.

Looking at the movement of the pair in the last two days the level of 1.1300 stands out as an appropriate target price due to the fact that it is yesterday's top, which means that there is a lot of interest around here. If the price breaks on the upside from current levels, we will be buying daily calls at 1.1300 heading into the 20:00 GMT expiration.

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.