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 shared currency pair is trading in the close vicinity of the 1.1490 level and it is currently deploying a lot of effort in jumping past the 1.1500 level but so far it seems that it has met a lot of resistance.
EUR/USD currency pair is receiving influence from the Italian political negotiations
Today I believe that the EUR/USD shared currency pair is receiving a lot of influence from the rising tensions in the European Union especially in Italy where the ruling party is having some serious problems in jumping past some political negotiations related to budget sharing. All of these tensions are adding extra pressure on the 1.1500 barrier which is very hard to jump over.
I have also noticed that despite the growing political tension in the Italic peninsula the fiscal segment and the money markets are still up and running.
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 this order of ideas I believe that investors are still going to be very reluctant when it comes to making any significant moves.
In the meantime in the European Union the releases of the French production data came out rather good and next on tap there will be the release of the Italian Industrial Production data which has already been predicted to land very good and hopefully offer a positive tone to the overall process. At the same time across the ocean in the United States the release of the Producer Prices will be released later when a new speech will come in from the Chicago Fed.
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 = 1.1610
Lowest level = 1.1462
Volatility level = Very High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 65 %
Sell 35 %
S3 = 1.1412 S2= 1.1421 S1 = 1.1383
R1 = 1.1510 R2 = 1.1554 R3 = 1.1542
EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.13% and it is trading close to the 1.1505 level therefore I believe that by jumping over the 1.1542 level this will clear the trading path towards the 1.1594 at first followed close up by the 1.1626 point.
On the other side of the medal there are several solid levels beginning with the 1.1432 point continuing with the 1.1326 point and lastly ending with the 1.1299 point.
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