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EUR/USD Signal - ECB Minutes Inconclusive - 19 Aug 2016

Signal details
Entry Price: 
1.1310
Close Price: 
1.1328
Direction: 
High
Expiry Time: 
20:00 GMT
Result: 
ITM
How we trade
5/5 of 3 ratings

In the past couple of days, the pair has been going up until today when the price went down, reached and is forming a base around the 1.1310 zone. This move is indicative of strong demand in the given area, which means that traders seem to be ignoring the prospects for new easing policy from the European Central Bank.

Even though the intent of the European Central Bank to create inflation and lower the cost of the Euro, there is still high interest in buying the EUR/USD and prices should be supported around the 1.1310 level. Having all this in mind we can conclude that it is suitable for the target price to be 1.1310 and if the course remains unchanged we will be buying daily calls heading for 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.