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Currency options trading tips – EUI trades this morning

Following the conclusion of the G20 meeting over the weekend, the US dollar has come under sustained pressure this morning, and as such we can expect to see a further decline in the currency this week, with the bearish trend in the USD index re-established once again on the daily chart. Indeed the index now looks set to retest the 74.17 level of late 2009, and beyond this a move towards 70.79 in due course. As such my currency options trading suggestions for the morning are to buy one of the following EUI November 10 put options at 72.00, 73.50 or 71.50, with the USD/EUR now looking set to break lower down towards the 70.50 area or even to retest the 68.40 region in due course.

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