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 currency pair is deploying a lot of effort in staying above the 1.1600 level.
- The US DXY Index continues to stay low close to 95.10.
- The release of the FOMC and the Home Sales data are the most important data releases of today.
According to FxEmpire.com today the EUR/USD currency pair is trading in the close vicinity of the 1.1620 with very few variations but with a significant amount of effort in keeping the trading cross above the psychological level of 1.1600, influence continues to come in from Turkey where the Lira is having a lot of trouble regaining strength.
EUR/USD currency pair will be highly influenced by the FOMC and by US President Trump
EUR/USD analysts now believe that the shared currency pair will continue to trade for a while in the close vicinity of the 1.1610 level and it has managed to come a great way and recover very fast from the low level of 1.1300 and now the trading cross is preparing to make a push towards the 1.1640 level and the risk sentiment is growing constantly.
Traders have managed to identify a lot of selling pressure surrounding the USD which has become more solid from the United States political scenario created by the US President.
EUR/USD traders and investors are patiently waiting for the release of the FOMC minutes later in the trading session and there will be a lot of influence coming in from the release of the United States Existing Homes Sales data as well as from the Fed statement in the fourth quarter of activity.
Let us know how you feel about the fact that the US is directly having a negative effect on the Turkish market? Why is President Trump shouting negative commentary at its own US Fed? Let us know how you feel about this? Even if you are a novice trader we would still like to know your opinion!
Highest level = 1.1631
Lowest level = 1.1551
Volatility level = Expanding
Our Trading Predictions
We advise you to:
- Sell 65%
- Buy 45%
S3 = 1.1528 S2= 1.1549 S1 = 1.1678
R1 = 1.1620 R2 = 1.1639 R3 = 1.1677
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EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going upwards by a positive value of +0.31% and it is trading in the close vicinity of the 1.1605 level and it will be relying on the 1.1623 level at first followed close up by the 1.1629 level and lastly ending with the 1.1745 point.
On the other side of the table by jumping past the 1.1547 point this will clear the trading path towards the 1.1447 level at first followed close up by the 1.1299 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!