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EUR/USD Put Signal 12 Nov 2015

Signal details
Entry Price: 
1.0770
Close Price: 
1.0810
Expiry Time: 
21:00 GMT
Result: 
OTM
How we trade
5/5 of 2 ratings

The EUR/USD has benefited from dovish comments by Federal Reserve officials made in the beginning of the New York trading session today. That said, the gains above 1.0800 didn't last and the pair traded back down to 1.0750. We are of the opinion that the coming hours will see more consolidation.

From a fundamental perspective the EUR/USD remains slightly undervalued as we are not so certain that the Federal Reserve will deliver a rate hike in December. However if we look at the balance of risks for the coming hours, we are more likely to see the rate closing below 1.0770 tonight.

This is why we are looking for a tiny rally to that level to buy daily put binary options.

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.