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EUR/USD Signal - Low US Inflation - 31 Oct 2016

Signal details
Entry Price: 
1.0950
Close Price: 
1.0980
Direction: 
High
Expiry Time: 
21:00 GMT
Result: 
ITM
How we trade
5/5 of 4 ratings

The EUR/USD pair has been consolidating throughout the morning, slowly moving lower in the aftermath of the U.S. election challenge being reignited. Last Friday just before the markets closed the FBI has re-opened an investigation into Hillary Clinton's handling of emails while serving as Secretary of State, after new device that contained new evidence was found.

As a result the EUR/USD has rallied sharply as the election of Donald Trump is seen as negative for the U.S. dollar and for stocks. The rally higher was interrupted by the market close and some of the gains in EUR/USD have been evaporated during the Asian and European trading sessions, however new data on inflation pointing towards benign trends is re-opening the question whether the U.S. Federal Reserve will do more than one hike over the coming months.

We are buying daily calls at 1.0947 on this pair and looking towards a resolution at the 21:00 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.