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EUR/USD Signal - Fed Hike Dismissed - 20 Sep 2016

Signal details
Entry Price: 
1.1175
Close Price: 
1.1158
Direction: 
High
Expiry Time: 
20:00 GMT
Result: 
OTM
How we trade
5/5 of 3 ratings

The EUR/USD pair has gathered momentum in recent weeks with the pair moving sideways yesterday but still closing above our target level at 1.1175. We continue with the same trade today as prices have dipped down during the Asian trading session window. Buying daily calls is our preference due to the lack of a Fed rate hike at the imminent meeting of the Federal Reserve Open Market Committee.

The main risk event during the course of the day for the EUR/USD pair is the release of housing starts and building permits at 12:30 GMT. The calendar in Europe is very light with German Producer Price Indices (PPI) at 06:00 GMT. The release is not expected to be materially different than forecasts, hence we are fairly confident in our expectations for today's trading session.

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.