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 has managed to jump over the 1.1480 level and it is now trading in above the 1.1500 and due to recent positive data it is highly possible that the trading cross will go even higher.
EUR/USD currency pair is now waiting for the EU summit data to catch roots
I have noticed that there is a lot of positive feedback coming in from the release of the US DXY index which has posted a value of 95.70 and has managed to keep the trading cross in an upwards position above the 1.1540 level where so far it has managed to find some resistance.
In the European Union I believe that the EURO single currency is receiving a lot of positive influence from the Italian Prime Minister which has officially announced that the Italian government is set on cutting the debt values of the GDP volume by 4.5% in the upcoming 3 years. No other significant data will be coming in from the Italian political field.
Why I think EUR/USD is one of the best currencies to trade right now
In the meantime still in the European Union the EURO and the GBP are now the biggest headlines because of the EU Summit which will be discussing the Brexit negotiations.
In the meantime across the ocean in the United States the release of the Initial Claims data as well as the Fed index will be the most important data release in the US.
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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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 = 1.1529
Lowest level = 1.1482
Volatility level = Shrinking
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 41 %
Sell 59 %
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 currency pair is going upwards by a small yet positive value of +0.15% and it is trading in the close vicinity of the 1.1520 level and it will be relying heavily on the 1.1582 point followed close up by the 1.1595 level and lastly ending with the 1.1623 point.
On the other side of the coin I believe that by jumping over the 1.1482 level this will cleat the trading path towards the 1.1432 level at first followed close up by the 1.1323 point.
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