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 under a lot of pressure and it is currently building up steam especially in the selling area and because of this the trading cross has dropped in the lower level of the trading chart in the close vicinity of 1.1360 and there are very few hints that it will go upwards in the near future.
EUR/USD currency pair is reacting promptly to weak trading data
I believe that in this trading session the EUR/USD currency pair will be shadowing some low point which are all close to the 1.1360 point and at the bottom of this low position stands the recent inflation figures release in the European union and with this the consumer prices have been predicted to increase by a total value of +2.0% on a monthly basis and by a value of +1.0% on a yearly pace.
I think that the pressure that we are seeing now on the trading chart is but only the beginning because a long line of weak data releases have been predicted to come into the open.
Why I think EUR/USD is one of the best currency pairs to trade right now
In the European Union all eyes will be fixed on the ongoing Italian political jitters because there is possibility that the 2019 budget deficit will land close to 2.0%.
At the same time I have noticed that the release of the Retail Sales data in Germany has added weight to the downside and the flash Italian CPI figures have been predicted to go downwards by a negative value of 0.1%.
Today I advise you to use the SELL action as much as possible!
Let us know how you feel about the fact that the Brexit negotiations have managed to influence the whole trading process in the European Union? Will the currency pair jump over the 1.1280 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 = 1.1402
Lowest level = 1.1366
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 30%
Sell – 70%
S3 = 1.1295 S2= 1.1341 S1 = 1.1393
R1 = 1.1340 R2 = 1.1385 R3 = 1.1412
EUR/USD significant trading levels
For the time being the EUR/USD currency pair is going downwards by a negative value of -0.25% and it is trading in the close vicinity of the 1.1365 level and it is relying heavily on the 1.1267 level continuing with the 1.1214 point and lastly ending with the 1.1188.
On the other side of the coin I believe that by jumping over the 1.1401 barrier this will definitely clear the path towards the 1.1434 point at first followed close by the 1.1473 point.
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