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EUR/USD binary signal - Germany Final Inflation - 13 Apr 2018

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Signal details
Entry Price: 
1.2344
Close Price: 
1.2329
Direction: 
Put
Expiry Time: 
21:00 GMT
Result: 
ITM
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The markets are looking at a quiet trading day with the economic calendar staying light. Only the German final inflation report is scheduled to come out today at 0600 GMT.

According to the economists polled, German inflation is forecast to rise at a pace of 0.4% on the month. Consumer prices in Germany were seen weakening in one of the previous months. The data today comes ahead of next week's final inflation report for the Eurozone on the whole.

Consumer prices in the Eurozone continue to remain steady although there are no signs of any potential strengthening in the underlying pressures for consumer prices. This could mean that the ECB will continue to remain on the sidelines until it see's further evidence of inflation strengthening.

Besides the inflation report for Germany, the Eurozone trade balance data will also be released. The trade balance figures comes at a time when the U.S. President Trump has been aggressive in renegotiating trade terms that are more favorable for the U.S. A bigger than expected trade surplus could potentially attract focus from the U.S. administration.

Based on the above, today's binary options signal is EURUSD. The currency pair was seen extending the declines yesterday after the ECB meeting minutes showed a surprisingly dovish bias. The euro gave up the gains on the day and we expect the downside to continue in the near term.

Therefore, we would purchase daily PUT options at 1.2344 for a 21:00 GMT expiry time. We expect to see the EURUSD post a short term intraday correction toward 1.2344 before reversing the losses to close lower on the day.

binary options signal eurusd 13 apr 2018

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.