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EUR/USD Signal - US Interest Rates - 15 Aug 2016

Signal details
Entry Price: 
1.1180
Close Price: 
1.1184
Direction: 
Low
Expiry Time: 
20:00 GMT
Result: 
OTM
How we trade
5/5 of 1 ratings

Throughout the day we have observed stable growth in the price of the EUR/USD pair from 1.1150 to 1.1180. This is happening despite the US rates on Friday, which supported the dollar. Monday being a holiday throughout half of Europe didn’t result in any the selling pressure on the euro into the US market open.

The EUR/USD tested the downside at 1.1150 this morning and then started slowly getting back on track. Our target price is around 1.1180 which is a touch higher than current levels. We are expecting high selling pressure in this zone to drive prices lower. In other words today we will be buying daily puts on the target price of 1.1180 heading for the 20:00 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.