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 EUR/USD shared currency pair is trading in the close vicinity of the 1.1490 level and at the bottom of this stands the Brexit negotiations as well as the political tensions in Italy.
EUR/USD currency pair is receiving a lot of influence from Italy
I have recently noticed that the EUR/USD currency is trading in the vicinity of the 1.1490 level and above it there is a strong selling pressure which will ultimately lead the trading cross close to the low level of 1.1460.
As for this current trading session I believe that the trading cross has already met its high level in the proximity of 1.1490 which happened as soon as the session began but after a very short period of time the pressure surrounding the selling actions began to rise and it was also affected by the low level posted by the US DXY index which was 95.60.
Live market charts
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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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Why I think EUR/USD is one of the best currencies to trade right now
More important I think that the EUR/USD shared currency pair will lose traction in the very near future and this will continue to motivate sellers even more but at the bottom of this stands the very delicate political scenario in Italy which is continue to affect investors.
At the same time in the European Union there any news that are talking openly about the ongoing Brexit negotiations and to a certain extent they continue to influence directly the GBP lows and the risk sentiment.
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 = 1.1495
Lowest level = 1.1431
Volatility level = Very High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 35 %
Sell 65 %
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 shared currency pair is going upwards by a positive value of +0.1% and it is trading in the proximity of the 1.1466 level and it will be relying heavily on the 1.1508 point followed close up by the 1.1550 level and lastly ending with the 1.1553 level.
On the other side of the coin by jumping over the 1.1432 mark I believe that this is going to open the way towards the 1.1323 level continuing with the 1.1299 level.
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