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 also start your journey in becoming a better 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 now trading in a solid manner close to 1.1430.
- The US DXY has posted a value close to 96.00.
- The release of the US CPI went up wards by a total value of +0.3% on a monthly basis and +2.8% on a yearly basis.
According to FxEmpire.com today the EUR/USD currency pair is going downwards with great speed and also it is trading in the lower part of the trading chart due to ongoing trade disputes between the United States and China therefore there is a strong selling action surrounding the currency pair and by all means it will definitely continue to stay low until Monday when traders hope for a rebound up to the 1.1540 level.
EUR/USD currency pair found solid support around the 1.1430 level
EUR/USD traders are now analyzing how much time, will the currency pair continue to spend in the negative territory of the trading chart and at the bottom of this stands the new values from the US DXY index. The inflation data is also on tap as the United States inflation data calculated by the CPI have shown an overall increase of +0.2% for the previous month and a rise of +2.9% on a year to year basis.
On top of this the releases of the Core CPI data also went up by +0.2% on a monthly basis and by +2.4% on a yearly basis therefore surpassing all expectations.
EUR/USD traders now feel confident that the currency pair will have to withstand a heavy set of selling pressure and at the bottom of this stands the never ending US and China trade discussions and the United States is reaffirming its trade sanctions against Russia, Iran and Turkey.
Let us know how you feel about the fact that the US and China trade deal has transformed into a trade dispute? When will it end? Will Turkey re? Even if you are a novice trader we would still like to know your opinion!
Highest level = 1.1538
Lowest level = 1.1416
Volatility level = Shrinking
Our Trading Predictions
We advise you to:
- Sell 79%
- Buy 21%
S3 = 1.1462 S2= 1.1413 S1 = 1.1422
R1 = 1.1583 R2 = 1.1522 R3 = 1.1585
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EUR/USD significant trading levels
For the time being the EUR/USD currency pair is going downwards by a huge value of -0.65% and it is currently trading in the proximity of the 1.1453 level and it is relying on support on the 1.1432 level at first followed close up by the 1.1373 point and lastly ending with the 1.1312 level.
On the other side of the medal by jumping over the 1.1595 level this will clear the trading path towards the 1.1639 level at first followed close up by the 1.1745 level.
We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!