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.
- The EUR/USD currency pair is losing momentum around the 1.1420 level.
- The USD is showing major weakness as the US DXY is very low next to 96.10.
- The release of the EMU Core CPI went upwards by a positive value of +1.2% on a yearly basis.
According to FxEmpire.com today the EUR/USD shared currency pair is trading in the close vicinity of the 1.1410 level and it is still receiving negative influence from the Turkish economic problems however China has began showing signs of stability over the trading chart.
EUR/USD currency pair did not react to the release of the EMU figures
EUR/USD analysts now believe that the shared currency pair will end the trading week in a positive stance and it is currently deploying a lot of effort in 1.1400 levels after climbing as high as the 1.1420 area.
All efforts will be to stay above the 1.1420 point and because of this there will be a lot steam building up across the trading chart and it will be waiting for the release of the inflation data in the European Union.
Across the data spate the release of the US Core CPI figures along with the consumer figures have managed to show an increase of +1.2% for the previous month and a rise of +2.2% on a yearly basis, both data figures came in according to most expectations as predicted.
EUR/USD traders are now waiting for the release of the Consumer data in the United States which will definitely influence the overall trading process on the chart.
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 = 1.1439
Lowest level = 1.1365
Volatility level = Expanding
Our Trading Predictions
We advise you to:
- Sell 60%
- Buy 40%
S3 = 1.1358 S2= 1.1329 S1 = 1.1338
R1 = 1.1459 R2 = 1.1419 R3 = 1.1467
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EUR/USD significant trading levels
For the time being the EUR/USD currency pair is going upwards by a positive value of +0.14% and it is trading in the close vicinity of the 1.1392 level therefore by breaching the 1.1420 level this will clear the trading path towards the 1.1455 level at first followed close up by the 1.1566 point.
On the other side of the table there are several solid points starting with 1.1299 continuing with 1.1188 and lastly ending with 1.1118.
We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!