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EUR/USD Put Signal 22 Oct 2015

Signal details
Entry Price: 
1.1210
Close Price: 
1.1108
Expiry Time: 
20:00 GMT
Result: 
ITM
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The EUR/USD is getting pressured by comments from the European Central Bank President Mario Draghi that the monetary authority is likely to revisit its easing bias in December. With the market expecting more measures to weaken the euro we could see the pair going much lower.

The rate initially dropped below 1.1300, and quickly hit levels below 1.1200 as of writing. The tone of the press conference implied that Mario Draghi hasn't limited the tools at the disposal of the ECB with lower deposit rates on the table. Buying put daily options seems prudent at any level above 1.1210.

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.