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 has managed to move upwards close to the 1.1700 level.
- The US DXY index has finally managed to shake off most low levels.
- Solid data is coming in from the European Union and the CB’s Consumer Confidence.
According to FxEmpire.com today the EUR/USD shared currency pair is trading in the close vicinity of the 1.1670 level after it has managed to trade for a while in the proximity of the 1.1700 level and at the bottom of this stands a new trade deal that has been signed between the United States and Mexico.
EUR/USD currency pair is building up steam
Analysts and traders now believe that the shared currency pair is still a long way from the 1.1300 low levels recorded earlier this month but without solid data releases it will definitely keep wobbling back and forth between the 1.1660 and 1.1700 levels until some consistent data comes along to save the day. We believe that the currency pair will keep the ascension clean if it does not receive any weak data, otherwise it will be a clean move upwards. More important there is strong selling action for the USD. Investors have managed to associate this action with a potential risky situation on the trading chart.
Here at forexandprofits.com we believe that the release of the EMU Money Supply data along with the Private Sector Loans in the European Union will definitely offer a positive tone to the overall trading process by easing off some steam we will continue to keep a close eye on the releases of the Consumer Confidence across the ocean in the United States and bring you professional investment advice.
Let us know how you feel about the fact that the US is directly having a negative effect on the international political tensions? Why has President Trump made a deal with Mexico? 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 = 1.1710
Lowest level = 1.1677
Volatility level = Expanding
Our Trading Predictions
We advise you to:
- Sell 55%
- Buy 45%
S3 = 1.1542 S2= 1.1561 S1 = 1.1683
R1 = 1.1617 R2 = 1.1624 R3 = 1.1662
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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 +0.2% and it is trading in the close vicinity of the 1.1677 level and it will be relying on the 1.1616 level continuing with the 1.1538 point and lastly ending with the 1.1533 level.
On the other side of the table jumping past the 1.1697 point this will clear the path towards the 1.1745 level followed close up by 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!