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 now shadowing the 1.1650 level.
- The US DXY index is now close to 95.00.
- The releases of the US ADP report and the ISM Non-manufacturing are the important data releases today.
According to FxEmpire.com today the EUR/USD currency pair is trading in the close vicinity of the 1.1650 level and it seems that at the base of this sharp movement stands the most recent Brexit negotiations between the European Union and UK.
EUR/USD currency pair is reacting to new data figures
I have noticed that the EUR/USD is now trading in the vicinity of the 1.1600 level and due to lack of solid trading data releases the currency pair did not find enough support and has quickly lost all progress achieved since the beginning of the trading week. I also believe that a strong support point will be found around the 1.1540 area.
The EUR/USD currency pair is also receiving plenty of negative influence from the trade disputes between the United States and China which has already started to influence the global markets in a very negative manner.
In the meantime in the European Union the release of the Factory Orders in Germany has increased by a positive value of +0.9% for the previous month therefore surpassing most predictions.
Across the ocean in the United States I believe that the release of the ADP report will bring a softer tone to the overall trading process. More important the releases of the initial claims and Durable Goods Orders will also offer positive influence.
Today I advise you to use the SELL action as much as possible!
Let us know how you feel about the fact that the US is directly having a negative effect on the international political tensions? Why are there so many problems with the US-China trade deal? Let us know how you feel about this? Even if you are a novice trader we would still like to know your opinion!
A summary of Highs and Lows for the EUR/USD
Highest level = 1.1660
Lowest level = 1.1604
Volatility level = Increasing
Today’s Forex forecast – We advise you to:
- Sell 80%
- Buy 20%
S3 = 1.1552 S2= 1.1571 S1 = 1.1693
R1 = 1.1627 R2 = 1.1634 R3 = 1.1652
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EUR/USD significant trading levels
For the time being the EUR/USD currency pair is going downwards by a negative value of -0.4% and it is trading in the close vicinity of the 1.1626 level thus I believe that by breaching the 1.1508 point this will clear the trading path towards the 1.1449 level followed close up by the 1.1299 level.
On the other side of the coin there are several solid levels beginning with the 1.1659 point continuing with the 1.1734 level and lastly ending with the 1.1745 level.
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