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EUR/USD Put Signal 29 Oct 2015

Signal details
Entry Price: 
1.0965
Close Price: 
1.0984
Expiry Time: 
21:00 GMT
Result: 
OTM
How we trade
5/5 of 2 ratings

The EUR/USD pair has consolidated today after losing two figures in the aftermath of the Federal Reserve's decision to leave rates unchanged but continue hinting of an upcoming rate hike. Traders have scrambled to sell the euro last night which was precisely what we expected before the announcement.

The current price of 1.0960 has been the average level for the past couple of hours with the biggest prospect for additional downside coming from the strong jobless claims showing posted this morning in the U.S. At the same time, German inflation appears to have stabilized somewhat, which sent the EUR/USD higher.

We are daily put option buyers at 1.0965 awaiting prices to rise somewhat before opening our position.

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.