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EUR/USD binary signal - German final CPI - 13 April 2017

Signal details
Entry Price: 
1.0650
Close Price: 
1.0617
Direction: 
High
Expiry Time: 
20:00 GMT
Result: 
OTM
How we trade
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Germany will be releasing the final inflation figures for the month of March with expectations currently pointing a 0.2% increase on a month over month basis. This is slightly below the February's headline increase of 0.6% over the month. On a year over year basis in March, Germany's flash inflation rose 1.6% which was also slightly below 1.8% increase previously. The expectations of weaker inflation were driven by lower energy and food prices which also sent the inflation estimates on the core slightly lower as well.

Besides the German inflation data, the French inflation figures are also expected to come out today. Estimates put the French inflation at 0.6% on a month over month basis, while posting an estimate of 1.1% on a year over year basis. In comparison to German inflation, the French inflation figures are tipped to come out stronger. The EURUSD which has posted strong gains yesterday on the back of a weaker U.S. dollar could therefore be expected to continue its bullish gains, regardless of the outcome of today's inflation figures.

Economic data from the U.S. today is only relegated to the initial jobless claims that come out weekly and the U.S. producer price index numbers which are expected to show a 2.4% increase on a year over year basis and 0.2% on a month over month basis. Excluding food and energy, core PPI is expected to rise 1.8% which could bring some risk to the table.

Considering the above factors, today's binary options trading signal recommendation is to purchase daily CALL options in the EURUSD currency pair. After prices broke past the 1.0600 support level, we can expect to see further continuation to the upside as a result. However, we can see some near term pull back in prices.

Therefore purchase daily CALL options at 1.0650 for a 20:00 GMT expiry time as we expect to see a short term pull back in prices ahead of prices resuming the bullish rally further to the upside.

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.