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EUR/USD Put Signal 18 Feb 2016

Signal details
Entry Price: 
1.1090
Close Price: 
1.1097
Expiry Time: 
21:00 GMT
Result: 
OTM
How we trade
4.7/5 of 3 ratings

The EUR/USD has been consolidating its earlier losses during the London trade as it prepares for another leg lower in our view. The single European currency has been suffering throughout the day as barrier defenses above the 1.1100 gave way to aggressive sellers.

The pair has subsequently dropped towards 1.1070, which is the last support level before we reach the key 1.1060 spot price. At this point in time we are seeing e protracted move lower as the more likely scenario and are positioning accordingly with buying puts at the 1.1090 level.

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.