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EUR/USD Signal - German ZEW Economic sentiment - 13 Dec 2016

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Signal details
Entry Price: 
Close Price: 
Expiry Time: 
21:00 GMT
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It is a busy day for the euro with economic reports today including the Eurozone and German ZEW economic sentiment and the quarterly employment change report. As per the latest data, unemployment in the eurozone fell to a 7-year low at 9.8%. The data indicated a modest but slow recovery in the euro area.

Today's unemployment data measures the quarterly change. Estimates point to a 0.3% increase in the quarterly employment change report alongside bullish expectations on the increase in economic sentiment, both for the eurozone and Germany. EURUSD was bullish yesterday forming a strong bullish engulfing pattern, this indicates further upside in the near term.

On the one-hour chart, EURUSD is currently seen making a pullback. We expect price to dip to 1.0600 before resuming the bullish trend. Therefore daily CALL options are ideal around a strike price of 1.0600 on expectations that the EURUSD will be closing higher today.

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. 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. All risks and coasts associated with online trading are your responsibility.