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 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.
|Factors that might affect this pair today
According to FxEmpire.com today the EUR/USD pair is reacting to US DXY index value which is rather high in the vicinity of the 96.00 value and the trading cross has just reached the 1.1470 low level.
EUR/USD currency pair is reacting to the Italian dilemmas, Brexit eyed
I have noticed that the EUR/USD pair has managed to climb, at the beginning of the trading session, upwards in the close vicinity of the 1.1500 level.
After a quick wave of selling pressure the currency pair has lost a lot of momentum and has lost this point for the 1.1470 level which is already showing serious signs of moving even lower.
I believe that the ongoing Brexit negotiations are starting to fail therefore this series of events have encouraged sellers to jump back in the trading market therefore dragging the GBP downwards.
Live market charts
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The chart is showing directions of today’s recommended currency pair. The chart for today shows it is in a clear bearish trend for the last few hours. Personally, I am using the ADX indicator to find good entry points on a 15 minute timeframe.
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Why I think EUR/USD is one of the best currencies to trade right now
Negative news is also coming in from Italy where there are many budget discussions about the overall productivity of the cuts.
There are no more solid data releases today from the European Union, but in the meantime from across the ocean in the United States the Chicago National Activity index has managed to bring a positive tone to the overall trading process because it has posted a value of 0.17 for the previous month.
Today I advise you to use the SELL action as much as possible!
Let us know how you feel about the fact that the EU Italian data has managed to influence the whole trading process in the European Union? Will the currency pair jump over the 1.1550 level? Let us know how you feel about this? Even if you are a novice trader we would still like to know your opinion!
|Forex and Profits presents Today’s Free Forex Signal
A summary of Highs and Lows for the EUR/USD
Highest level = 1.1552
Lowest level = 1.1448
Volatility level = Shrinking
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 25 %
Sell 75 %
S3 = 1.1512 S2= 1.1521 S1 = 1.1483
R1 = 1.1610 R2 = 1.1654 R3 = 1.1642
EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.52% and it is currently trading in the vicinity of the 1.1479 level and I believe that by jumping over the 1.1430 level this will clear the trading path towards 1.1323 at first followed close up by 1.1299. On the other side of the medal I have noticed that there are several solid level starting with 1.1550 continuing with 1.1570 and lastly ending with 1.1623.
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