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EUR/USD Put Signal 17 Nov 2015

Signal details
Entry Price: 
1.0640
Close Price: 
1.0646
Expiry Time: 
21:00 GMT
Result: 
OTM
How we trade
5/5 of 2 ratings

The EUR/USD is once again on the back foot as the European Central Bank is expected to ease monetary policy to boost demand across the European Union in the aftermath of the unfortunate events in Paris last week. The rate has continued tracking lower in the aftermath of moderate IFO data from Germany.

U.S. data today was not very strong, but that didn't deter the U.S. dollar from making another run higher as we write this trading signal. The EUR/USD has further room to go too as the multiyear bottom for it lies just below 1.0600. We would be buying daily put binary options on this pair at 1.0640 today.

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.