Market Update: Will the EUR/USD breakout?
The markets might be looking at an early reversal for the EUR/USD, though with uncertainty at all time highs we present the best way to trade a “one click one pip” strategy on the pair. Here’s why:
- EU Consumer confidence. This report is due out today at 3:00pm GMT and is expected to tick down.
- Report is expected to show a value of -20, marginal improvement on last month’s figure of -21.
- The EUR/USD could be setting up for an early reversal after falling to levels as low 1.2600 against the USD.
- Forecasting a sustained trend on the pair has been tricky, Euro Binary Options allow you to profit up to 85% within 1 hour of the report’s release, by simply trading on the direction (ABOVE or BELOW) as it develops in real time.
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To better understand how to trade EURUSD binary options, schedule a training session at +44-2033185986 or by emailing support@tradesmarter.com today. You don’t need to have a funded account, but it helps if you want to make a trade!
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Trade Alert for EU Consumer Confidence Report
Eurostat releases its monthly survey at 3:00pm GMT today, a result of about 2,300 consumers across the Continent, which asks respondents to rate the relative level of past and future economic conditions, including personal financial situation, employment, inflation, and climate for major purchases.
Why is it important?
Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity. Traders will be looking for an index value of -20 (above 0 indicates optimism), in line with previous 2 months of negative sentiment. Any change for the better would be a positive for the Euro zone and Euro dollar.
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