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EUR/USD Put Signal 11 Jan 2016

Signal details
Entry Price: 
1.0880
Close Price: 
1.0851
Expiry Time: 
21:00 GMT
Result: 
ITM
How we trade
5/5 of 2 ratings

The EUR/USD has been trading lower for the most part of the day after opening in early Asian trading above 1.0900. A subsequent rally toward the area above 1.0970 was met with some serious selling and prices have been trending downward for the most part of the day except for the last hour when some bids materialized below 1.0850.

After a rally to almost 1.0900 the pair is currently trading at 1.0880, which we find to be a great level to buy daily puts on the EUR/USD. Our rationale for this trade is that it would take much more effort for traders to push prices back above the 1.0900 figure in an environment where stocks appear to be rallying somewhat.

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.