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EUR/USD Put Signal 15 Apr 2016

Signal details
Entry Price: 
1.1280
Close Price: 
1.1281
Expiry Time: 
20:00 GMT
Result: 
OTM
How we trade
4.2/5 of 3 ratings

The EUR/USD is consolidating before heading towards a reversal weekly close and opening the doors to a deeper pullback in the coming sessions. While the key risk event next week is the meeting of the Federal Reserve officials to decide on interest rates, we are holding the view that the markets have already priced in that there won't be any action.

Prices of the EUR/USD have been pulling back from the 1.1400 area amid a broad rally in risk assets, including stocks and oil. The U.S. dollar has lately been benefitting from risk-on flows. We are looking to buy daily puts if the price rallies from current levels of 1.1276 to 1.1280. Expiration is set for 20:00 GMT.

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.