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EUR/USD Put Signal 23 Feb 2016

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Signal details
Entry Price: 
Close Price: 
Expiry Time: 
21:00 GMT
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The EUR/USD has been pressured throughout the European session after much weaker than expected numbers from the German IFO Institute have prompted liquidation of positions of bargain hunters and a drop below the 1.1000 figure for the first time since the 3rd of February.

A subsequent set of weak data from the United States has acted to counterbalance the trade and returned the focus on the upside with a test of the 1.1030 level, which was the price at which the EUR/USD was trading before the German data. We are looking to buy daily puts on the pair at 1.1020 and a return towards the figure until the end of the trading day.

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. 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. All risks and coasts associated with online trading are your responsibility.