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EUR/USD Signal - Federal Reserve Speakers - 25 Aug 2016

Signal details
Entry Price: 
1.1280
Close Price: 
1.1280
Direction: 
High
Expiry Time: 
20:00 GMT
How we trade
2.5/5 of 13 ratings

In the past two days the EUR/USD has been gradually going down and it is starting to form a base in the 1.1240-50 zone. Since then the pair has rebounded towards the 1.1290-1.1300 area with the U.S. Federal Reserve expected to voice their intentions about interest rates direction later this week.

Looking at the pair‘s course we can say that an appropriate target price for today would be at the point of 1.1270-80 as it was an important level for Tuesday and it would buying interest. Considering these probabilities we can say that today we would be buying daily calls at the target price of 1.1280 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.