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EUR/USD Signal - US Data - 09 Aug 2016

Signal details
Entry Price: 
1.1070
Close Price: 
1.1111
Direction: 
High
Expiry Time: 
20:00 GMT
Result: 
ITM
How we trade
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There haven’t been any new fundamental changes for the EUR/USD compared to yesterday and during the past couple of hours today. Still in the last two hours there have been a noticeable drop in the price from 1.1094 to 1.1077. Therefore, if this pattern continues it would be appropriate for our target price to be 1.1070, around which the pair has formed a double bottom and where it should attract buyers.

Because of the high buying interest that may form at this moment we should see sufficient bids that will most likely raise the price of the EUR/USD pair. That is why we will be buying daily calls on the price of 1.1070 aiming for the expiration at 20:00 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.