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 the EUR/USD currency pair is trading in the close vicinity of the 1.1470 level and there are many signs that eventually point out towards the 1.1450 level and to other lower support points and at the bottom of this stands the recent news in the Italian government.
EUR/USD currency pair is receiving a lot of influence from Italy
I have noticed that there is a huge pressure on the currency pair and the risk sentiment is unusually high for the beginning of the trading week but I don’t think that showing some extra support for the USD will make any significant difference because all eyes are now fixed on Italy and its internal tensions.
At the same time across the ocean in the United States the DXY index has reacted in anticipation to the release of the payroll data therefore we can see the 96.00 value catch roots.
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
In the meantime back in the European Union the European Central Bank is having long discussions about the overall inflation figures on the old continent and I think that in the near future we are going to see a lot of economical measure in order to keep price stability solid.
As for data releases I believe that the release of the EMU Sentix index did not land according to most expectations for the previous month having posted close to 11.4 therefore greatly missing the 11.7 predicted value.
Today I advise you to use the BUY 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 1.1500 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 = 1.1490
Lowest level = 1.1442
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 65 %
Sell 35 %
S3 = 1.1422 S2= 1.1461 S1 = 1.1393
R1 = 1.1520 R2 = 1.1534 R3 = 1.1512
EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.49% and it is trading in the close vicinity of the 1.1471 level and I believe that it is relying heavily on the 1.1460 level at first followed close up by the 1.1449 point and lastly ending with the 1.1299 point.
On the other side of the coin by jumping over the 1.1542 level this will clear the trading path towards the 1.1591 level at first followed close up by the 1.1636 point.
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