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EUR/USD Signal - Weak German Factory Orders - 07 Sep 2016

Signal details
Entry Price: 
1.1235
Close Price: 
1.1240
Direction: 
Low
Expiry Time: 
20:00 GMT
Result: 
OTM
How we trade
5/5 of 2 ratings

The EUR/USD has been experiencing some radical changes in its price after yesterday it broke the 1.1168 level on the upside. Even though the significant move (from 1.1168 to 1.1264 which is the highest level until now for today) the outlook for the single European currency is currently mixed, as the reason for that is being the poor services PMI data report from the US and the probability for the European Central Bank to commence further monetary policy expansion on Thursday.

Nevertheless, the US Federal Reserve is also unlikely to move interest rates higher in the near term. Investigating the pair’s movement we can conclude that it is appropriate to asses a target price around the 1.1235 level. Having in mind all the probabilities and fundamental factors we could say that today we will be buying daily puts at the price of 1.1235 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.