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EUR/USD Put Signal 30 Oct 2015

Signal details
Entry Price: 
1.1020
Close Price: 
1.0994
Expiry Time: 
21:00 GMT
Result: 
ITM
How we trade
5/5 of 4 ratings

The EUR/USD has started the day with a strong rally during the European session after solid GDP data from Spain, which could influence the parliamentary elections in the country later this year.

With decreased uncertainty about the outcome there, the possibility for a solid government could is a boost for the euro.

U.S. data has come in somewhat negative with spending, income and inflation all coming in a touch weaker than expectations. With two more data pieces awaited before the end of the trading day, we are ignoring the first batch and expecting that the EUR/USD will turn lower from 1.1020 when it reaches it.

Buying daily puts at 1.1020 is our preferred strategy.

Comments

JWolf's picture

I tweaked this trade a little and waited for the two hourly selling wicks around 1.1070 before selling, but even then it finished under original 1.1020 selling target at the expiry. Thanks!

JWolf

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.