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EUR/USD Call Signal 27 Oct 2015

Signal details
Entry Price: 
1.1040
Close Price: 
1.1048
Expiry Time: 
21:00 GMT
Result: 
ITM
How we trade
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The EUR/USD pair has been stuck in a range in Tuesday's trade, albeit at somewhat higher levels. After the euro has rallied in the morning reaching as high as 1.1079, the price fell lower to test the high 30's around 1.3037.

The data out from the U.S. wasn't particularly bullish for the dollar but was enough to contain any sharp moves before key central bank communication tomorrow. The Federal Reserve is expected to maintain rates unchanged, but some market participants are saying that some pessimism about the U.S. economy is possible.

In our views, the market will be positioning ahead of the Fed for a touch weaker U.S. dollar rate, this is why we are buying daily calls on the EUR/USD pair today at 1.1040.

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.