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 downwards and it is heading towards the 1.1480 level with speed and there are some scenarios that hint that the trading cross won’t stop there but close to the 1.1460 zone.
EUR/USD currency pair is trading low because of Italian data
I believe that today we are going to see many low trading levels on the chart and at the bottom of this stands the recent high demand around the US DXY index which has managed to pick up pace and jumped past the 96.10 value, this in turn has guided the trading cross under the 1.1480 level.
In the meantime I have noticed that in the European Union the Italian government negotiations are having a lot of problems because of faulty politics.
Across the ocean in the United States the Fed President Mr. J. Powell held an interview in which he stated that the interest rates are supposed to go downwards but first it will have to become solid around the neutral values and the consensus is now close to 3.0% which in my opinion is a steady line to work with. I have also noticed that there will be a lot of positive vibes from the release of the Initial Claims data.
Live market charts
We want Forex to be all about profitable trading! Forex and Profits makes sure you have the latest live market charts available every day. I am using the ADX indicator as well as Bollinger bands with Moving Average and Stochastic Oscillator for the this currency pair. Only open new trades when all these indicators show a clear trend.
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
Except the ongoing political tensions in Italy there is no other solid data coming in from the European Union but in the United States the release of the Factory Orders will definitely offer some traction for the currency pair, more important the release of the labor data will also offer plenty of influence for the overall trading process.
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 German data has managed to influence the whole trading process in the European Union? Will the currency pair jump over the 1.1600 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 = 1.1501
Lowest level = 1.1462
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 90 %
Sell 10 %
S3 = 1.1422 S2= 1.1461 S1 = 1.1393
R1 = 1.1620 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 -0.2% and it is trading in the close vicinity of the 1.1479 level therefore I believe that by breaching the 1.1508 level this will clear the trading path towards the 1.1608 level at first followed close up by the 1.1641 point.
On the other side of the table there are several solid levels beginning with the 1.1463 point continuing with the 1.1449 level and lastly ending with the 1.1299 point.
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