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EUR/USD Signal - US ADP Payrolls - 30 Nov 2016

Signal details
Entry Price: 
1.0600
Close Price: 
1.0596
Direction: 
High
Expiry Time: 
21:00 GMT
Result: 
OTM
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A busy day for the markets today, with data from the US and the OPEC meetings in focus, which could influence the short term direction in the U.S. dollar. EURUSD has been largely flat although showing signs of a short term pause to the downtrend. Economic data today includes the US ADP payrolls report which is expected to show 161k jobs being added in November, this is higher than the previous month's increase of 141k.

Despite the fundamental risks, EURUSD could be seen posting a bullish day today. Prices are currently pulling back to the support level at 1.0600, where daily calls can be purchased with the idea that EURUSD will close the day higher. Therefore purchase CALL options near 1.0600 with an expiry time of 21:00 GMT.

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.