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 currency pair is going upwards and it seems that so far there are many levels above the 1.1600 point and it will continue to go even further and reveal fresh new levels.
EUR/USD currency pair is now moving towards 1.1620 level
I believe that the EUR/USD is facing a lot of selling pressure around the US DXY index which has managed to post low levels under the 95.00 value and in turn this has managed to spark fresh new levels all of which are in the proximity of the 1.1630 level.
In the meantime in the European Union the Italian budget has finally been approved and submitted and everyone is still waiting for the EU’s reaction concerning its values.
Still in the European Union I have noticed that were negative vibes coming in from the weak German EMU ZEW data releases but all hopes continues to stay up as the Brexit negotiation is stil on the table and it is looking for direction.
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
At the same time across the ocean in the United States the release of the Industrial Production has managed to go upwards by a positive value of +0.4% on a monthly basis for the previous month of September also the unveiling of the Manufacturing Production figures has managed to show an increases of +0.3% on a monthly basis.
I believe that the Job Openings data and the NAHB index in the United States has managed to surpass all major predictions.
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 1.1600 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 = 1.1623
Lowest level = 1.1576
Volatility level = Shrinking
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 40 %
Sell 60 %
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 -0.2% and it is currently trading in the close vicinity of the 1.1592 level and it is going to rely heavily on the 1.1621 point followed close up by the 1.1629 point and ending with the 1.1735 point.
On the other side of the medal by jumping over the 1.1535 level I believe that this will clear the trading path towards the 1.1432 level at first followed close up by the 1.1323 point.
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