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EUR/USD Call Signal 11 Nov 2015

Signal details
Entry Price: 
1.0735
Close Price: 
1.0743
Expiry Time: 
21:00 GMT
Result: 
ITM
How we trade
5/5 of 3 ratings

The EUR/USD has been trading within recent ranges after falling last night as low as 1.0680. The pair has been influenced by a confluence of factors to even out in the middle of the range and trade around 1.0740 as of writing. We are looking for opportunities to buy calls.

Recent euro weakness has been attributed to monetary policy divergence with some market players believing that a Fed hike on December is on the line.

At the same time a Reuters report from earlier in the week suggested that the ECB has found a consensus to reduce borrowing costs further and expose the euro to further downside. Our view is that we will need some more data before another leg lower can be sustained, this is why we will be buying daily calls at 1.0735.

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.