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 shared currency pair is trading in the close vicinity of the 1.1530 level after it has tested for a while the 1.1580 level but due to lack of solid data releases it did not manage to sustain this value for long.
EUR/USD currency pair is patiently waiting for positive data releases from the European Central Bank
I have noticed that the EUR/USD shared currency pair has been under a lot of stress lately mostly because in this trading session alone it has already faced two consecutive pullbacks and so far it seems that the 1.1500 level will begin to turn into a solid point of trading.
In the European Union there is a negative influence coming in from the political tensions in Italy.
Live market charts
We want Forex to be all about profitable trading! Forex and Profits makes sure you have the latest live market charts available every day. I am using the ADX indicator as well as Bollinger bands with Moving Average and Stochastic Oscillator for the this currency pair. Only open new trades when all these indicators show a clear trend.
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
In the United States it seems that the recent sell-off has been publicly criticized by President Donald Trump to who is now pointing finger at the Fed and its recent monetary policy modifications. Of course as we are all accustomed already by now the US President has already made things common in criticizing its own national currency and with this the risk value are sky high.
I believe that there will be positive influence coming in from across the ocean where the release of the US data will come out from out of the blue, at the same time I feel confident that the inflation figures measured by the CPI will turn out accord to most expectations.
Today I advise you to use the BUY 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 1.1500 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 = 1.1578
Lowest level = 1.1518
Volatility level = Shrinking
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 65 %
Sell 35 %
S3 = 1.1412 S2= 1.1421 S1 = 1.1383
R1 = 1.1510 R2 = 1.1554 R3 = 1.1542
EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going upwards by a positive value of +0.19% and it is trading in the close vicinity of the 1.1542 level therefore I believe that by jumping over the 1.1572 level this will clear the trading path towards the 1.1592 point followed close up by the 1.1623 point.
On the other side of the medal I have noticed that there are several solid points starting with the 1.1432 point continuing with the 1.1326 level and lastly ending with the 1.1299 level.
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