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EUR/USD Put Signal 26 Oct 2015

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Signal details
Entry Price: 
Close Price: 
No Trade
Expiry Time: 
21:00 GMT
How we trade
5/5 of 2 ratings

The EUR/USD has been trading within relatively tight ranges on Monday as the European Central Bank (ECB) has triggered a protracted fall in the rate last week. This has resulted in the single currency falling to as low as 1.10 before stabilizing today.

The rate has fluctuated roughly between 1.1059 and 1.0994 in trading today with the U.S. session bringing a bout of weakness due to poor housing data. New home sales have dropped substantially in September, coming in at 468,000 on an annual basis. The figure was lower by 11.5 per cent when compared to August.

Nevertheless, we are looking to buy daily puts on this pair as the rate is likely to remain range bound in New York trading.

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.