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 currency pair today
According to FxEmpire.com today the EUR/USD currency pair is trading in the close vicinity of the 1.1720 level and it is receiving a lot of negative influence from the problems surrounding the US and Chine trade deals and so far the US negotiations are failing badly.
EUR/USD currency pair is influenced heavily by the Mario Draghi
Today I believe that the EUR/USD shared currency pair will try to extend the positive trading stance as much as possible and it will deploy a lot of effort in jumping past the 1.1715 level and I also think that it is going to set up a solid trading point around the 1.1740 level.
I think that the EUR/USD shared currency pair is going to keep advancing upwards for the second consecutive session in a row on the second trading day of the week even though it is receiving very poor influence from the US DXY index.
Live market charts
The chart is showing directions of today’s recommended currency pair. The EUR/USD chart for today shows it is in an down position. 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 it seems that the trade negotiations between the United States and China are failing badly and are very close to closing due to the United States clumsiness in increasing by a total of 10% tariff on the $200 billion of Chinese products and services. This in turn has managed to outrage the Chinese officials which have already filed a complaint against the United States.
One of the most important events today is the meeting between the ECB President Mario Draghi and the Board member D.Nouy in Paris, France where the inflation figures will be discussed.
At the same time across the ocean in the United States I believe that the release of the NAHB index along with the API report will be the most influential data release for today.
Today I advise you to use the SELL action as much as possible!
Let us know how you feel about the fact that the US is directly having a negative effect on the international political tensions? Why are there so many problems with the US-China trade deal? 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 = 1.1725
Lowest level = 1.1688
Volatility level = Expanding
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Sell 70 %
Buy 30 %
S3 = 1.1712 S2= 1.1561 S1 = 1.1593
R1 = 1.1627 R2 = 1.1664 R3 = 1.1692
EUR/USD significant trading levels
For the time being the EUR/USD currency pair is going upwards by a positive value of +0.16% and it is trading in the close vicinity of the 1.1698 level and I believe that by jumping over the 1.1724 level this will clear the trading path towards the 1.1745 level followed close up by the 1.1792 level.
On the other side of the table there are several solid levels beginning with the 1.1629 level followed close up by the 1.1526 level and lastly ending with the 1.1508 point.
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