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 start your journey today as a solid 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 is maintaining a tight grip on the 1.1380 level.
- The US DXY index has fallen close to 94.20.
- The release of the US Export and Import data did not manage to land according to predictions.
According to FxEmpire.com today the EUR/USD currency pair is trading in the close vicinity of the 1.1370 level and it is showing few signs of recovery in the near future and all eyes are fixed on the Turkish TRY Lira which is still at an historic low level because of the United States trade sanctions, Turkish President Erdogan has declared and economic war to the United States.
EUR/USD currency pair is highly influence by the Turkish economic measures
Today the EUR/USD traders and analysts have noticed that the currency pair is trading on the losing side of the trading chart for the fourth day in a row thus optimism and hopes are falling like stones in a river, the best place so far recorded in the European trading session has been registered in the proximity of the 1.1420 with very few variations close to the 1.1435 level but with the releases of the weak data in the United States the trading cross will definitely fall even deeper.
Analysts feel confident that the currency pair will have to jump past the 1.1360 level in the near future but high emphasis will be placed on the Turkish markets which do not seem to have any positive effect so far.
As for data releases in the European Union the currency pair will have to rely heavily on the release of the German EMU figures as well as on the ZEW survey and at the same time across the ocean in the United States the release of the Export and Import prices data did not happen to offer any satisfaction for the overall trading process.
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? What do you think will happen tomorrow with this currency pair? Even if you are a novice trader we would still like to know your opinion!
Highest level = 1.1438
Lowest level = 1.1365
Volatility level = Expanding
Our Trading Predictions
We advise you to:
- Sell 70%
- Buy 30%
S3 = 1.1362 S2= 1.1313 S1 = 1.1322
R1 = 1.1483 R2 = 1.1422 R3 = 1.1485
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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 trading in the vicinity of the 1.1388 level and it is going to meet some support close to the 1.1365 level followed close up by the 1.1312 level and lastly ending with the 1.1300 support point.
On the other side of the table only by jumping over the 1.1433 level will the currency pair aim for the 1.1532 level at first followed close up by the 1.1609 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!