Are you searching for a strong currency which is racing upwards on the trading chart? Guess what? Now you can make some great Pips on the EUR USD currency pair and begin your journey today as a successful trader!
Here I will share what I believe about the EUR/USD movement on the trading chart today. I will explain in details why this is going to happen and how can it be in your advantage.
- The currency pair will continue to stay in the 1.1320 trading zone because of weak US data.
- The US DXY index has just lost the 97.00 value.
- The releases of the Retail Sales in the United States exceeded most expectations for the previous month.
According to FxEmpire.com today the EUR/USD share currency pair is trading in the low segment of the trading chart in the close vicinity of the 1.1330 level with many downward variations around the 1.1310 level and at the bottom of this stands the weak data releases in the United States as well as the beginning of a new trade war for the United States, this time with Turkey.
EUR/USD currency pair will keep the level above 1.1300
EUR/USD analysts and traders now strongly believe that the single European will be surrounded by a strong bearish sentiment and the trading cross will continue to go up and down around the 1.1320 level and it is going to reach some stability only after the releases of the US data later in the trading session.
Traders have managed to identify some positive influence coming in from across the ocean in the United States where the release of the Retail Sales figures came in above most expectations going up by a positive value of +0.5% on a monthly basis, therefore keeping the trading cross above the 1.1300 psychological level.
EUR/USD is looking towards Erdogan’s TRY measures
There have also been some other positive data releases in the United States but less influential beginning with the New York Empire State manufacturing data which landed close to 25.4 which landed rather well compared to the predicted value of 20.5.
More important today Turkish President Erdogan has announced that he will be applying a lot of economic measure in order to break the historic low level of the Turkish Lira and it seems that the United States has managed to open another trade war with yet another country in the region.
Let us know how you feel about the fact that the US is directly having a negative effect on the Turkish market? How will Turkish President Erdogan respond to this threat from the United States? Let us know how you feel about this? Even if you are a novice trader we would still like to know your opinion!
Highest level = 1.1352
Lowest level = 1.1309
Volatility level = Expanding Very Fast
Our Trading Predictions
We advise you to:
- Sell 75%
- Buy 25%
S3 = 1.1361 S2= 1.1311 S1 = 1.1323
R1 = 1.1481 R2 = 1.1423 R3 = 1.1481
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EUR/USD significant trading levels
For the time being the EUR/USD currency pair is going downwards by a negative value of -0.19% and it is currently trading in the proximity of the 1.1326 level and it will be looking for support close to the 1.1309 level followed close up by the 1.1300 level and lastly ending with the 1.1188 level.
On the other side of the table by jumping over the 1.1360 level this will clear the trading path towards the 1.1494 point followed close up by the 1.1591 point.
We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!