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 detail why this is going to happen and how can it be to your advantage.
- The EUR/USD currency pair will continue to fight for a place close to 1.1540.
- The US DXY index continues to stay close to the 95.50 value.
- The release of the Flash PMIs in European Union did not manage to meet all expectations.
According to FxEmpire.com today the EUR/USD shared currency pair is trading in the close vicinity of the 1.1550 level and as it struggles to go upwards it is building a lot of pressure which will eventually determine the trading cross to go higher, but at the bottom of this stands the weak release of the PMI data in the European Union.
EUR/USD traders now feel confident that the shared currency pair will be trading for a while in the proximity of the 1.1550 level and will continue to stay under a huge selling pressure up until the end of the trading session or when it reaches the 1.1600 level.
EUR/USD analysts have mentioned earlier that the release of the PMI prints in the European Union did not land according to expectations therefore creating a mixed trading tone for the previous month of August. In detail the release of the German manufacturing PMI prints missed the predicted values of 56.2 and 55.2.
At the same time across the ocean in the United States the US DXY index is showing some signs of stability but will continue to receive negative influence from the United States international political disputes.
Let us know how you feel about the fact that the US is directly having a negative effect on the international political tensions? Why is President Trump shouting negative commentary at its own US national currency? 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 = 1.1610
Lowest level = 1.1561
Volatility level = Expanding
Our Trading Predictions
We advise you to:
- Sell 65%
- Buy 45%
S3 = 1.1522 S2= 1.1541 S1 = 1.1673
R1 = 1.1627 R2 = 1.1634 R3 = 1.1672
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EUR/USD currency pair significant trading levels
For the time being the EUR/USD currency pair is going upwards by a small positive value of +0.16% and it is trading in the close vicinity of the 1.1557 level thus by breaching the 1.1539 level this will clear the trading path towards the 1.1453 level continuing with the 1.1299 level.
On the other side of the coin there are several solid levels starting with the 1.1624 point continuing with the 1.1629 point and lastly ending with the 1.1745 point.
We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!