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 may affect this currency pair today
According to FxEmpire.com today the EUR/USD is going downwards on a path and it has left behind the 1.1700 level and has also started moving within new daily low levels around the 1.1660 point and I believe that there is a huge possibility that the currency pair will go down close to 1.1640 level.
EUR/USD currency pair has lost the 1.1720
I believe that the EUR/USD trading cross faced a lot of resistance around the 1.1730 level and without any further support the correction path emerged and lead the cross downwards around the 1.1680 point.
Across the ocean in the United States the release of the Retail Sales data has increased by a positive value of +0.1% in the previous month coming in very close to most predictions. At the same time the releases of the Core Retail Sales data increased by a positive value of +0.3% on a monthly basis and it has missed almost all predictions. Still in the US I believe that the Industrial Production data will not create any waves across the trading chart because it has increased only by +0.4% which is not a market driver.
Live market charts
The chart is showing directions of today’s recommended currency pair. The EUR/USD chart for today shows it is in an down position. Personally, I am using the ADX indicator to find good entry points on a 15 minute timeframe.
Are you looking for the best trading charts?
TradingView offers an advanced charting and analysis platform with hundreds of drawings and indicators. You can compare stocks, predict where the price will go and publish ideas.
Why I think EUR/USD is one of the best currencies to trade right now
I think that we are going to see a lot movement after the releases of the U-Mich index and Business Inventories data both of which are the last and the most important data releases of the trading week.
In the meantime the United States is still facing the same problems with China in striking a trade deal and this will continue to affect the USD in worst possible manner.
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!
Forex and Profits presents Today’s Free Forex Signal
A summary of Highs and Lows for the EUR/USD
Highest level = 1.1723
Lowest level = 1.1643
Volatility level = Expanding
Today’s Forex predictions
Here is my EUR USD forecast for tomorrow
Today I advise you to use the SELL action as much as possible!
S3 = 1.1812 S2= 1.1761 S1 = 1.1633
R1 = 1.1657 R2 = 1.1674 R3 = 1.1592
EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.41% and it is trading close to the 1.1664 level and I believe that there will be several solid levels around 1.1622 at first followed close up by the 1.1611 level and lastly ending with the 1.1508 point.
On the other side of the medal I believe that by jumping past the 1.1734 level this will clear the path towards the 1.1745 level and continuing with the 1.1792 level.
We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!
Are you in need of a good Forex broker?
Do you need investment advice? We have all the solutions to all your problems! Our professionals recommend you open an account with these brokers: AAAfx or Zulutrade. Both are amazing in customer care service and offer a robust and productive trading experience. Increase your capital today!