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 shared currency pair is showing some volume increase and it is highly possible that it is preparing to undergo a consolidative run just as the European Union trading session begins.
EUR/USD currency pair will be highly influenced by the FOMC data
I believe that today the EUR/USD pair will be receiving some moderate influence from the USD and so far it seems that the FOMC meeting is the biggest event of the trading day.
In the meantime in the Europea Central Bank Mr. President Mario Draghi has issued some daring comments about the evolution of the inflation levels. The European Central Bank President also stated that the inflation pressure will become stronger after the Economic forum discussions, therefore I advise taking caution.
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 the currency pair EUR USD. Only open new trades when all these indicators show a clear trend.
The chart is showing directions of today’s recommended currency pair. The EUR/USD 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
I have noticed that in the European Union negative influence is coming in from the Italian budget conflict where the Italian Government has blocked the budget due to some allocation problems. This event will create a lot of uncertainty across the trading markets and the risk sentiment will slowly start to grow.
Across the ocean in the United States I believe that one of the most important data releases will be the US home sales figures as well as the FOMC meeting.
Today I advise you to use the BUY action with moderation!
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 1.1800 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 = 1.1790
Lowest level = 1.1752
Volatility level = High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Sell 25 %
Buy 75 %
S3 = 1.1722 S2= 1.1681 S1 = 1.1693
R1 = 1.1827 R2 = 1.1864 R3 = 1.1792
EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going upwards by a positive value of +0.4% and it is trading in the close vicinity of the 1.1765 and it is relying heavily on the 1.1790 level at first followed close up by the 1.1810 trading zone.
On the other side of the table I believe that by jumping over the 1.1790 level this will clear the path towards the 1.1854 level at first followed close up by the 1.1904 point.
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