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.
- The EUR/USD currency pair is going higher in the vicinity of the 1.1600 trading zone.
- The US DXY index is now in the boundaries of the low levels of 95.30.
- EUR/USD is waiting for the release of the US Durable Goods data.
According to FxEmpire.com today the EUR/USD currency pair is reacting to Mr. Powell’s speech at the Jackson Hole also a strong influence will be coming in from the release of the Durable Goods data which is just around the corner and it is slowly gaining stability in the close vicinity of the 1.1600 level.
EUR/USD currency pair looks for new data
Today the EUR/USD shared currency pair has managed to regain most of the lost territory in past weak trading session and it is currently shadowing the 1.1600 level, but some data will be coming in from the United States data releases and the speech help by Mr. J.Powell at the Jackson Hole Symposium.
The trading cross has managed to add a lot of gains because of the US DXY weak values furthermore the Chinese Yuan is showing signs of improvement across the trading chart.
In the near future both traders and analysts will be waiting patiently for the releases of the J.Powell speech and hope that there will some positive changes about the new Fed’s policy updates.In the meantime in the European Union there are no significant data releases that could influence the overall trading process.
Let us know how you feel about the fact that the US is directly having a negative effect on the international political tensions? Why is President Trump shouting negative commentary at its own US national currency? Let us know how you feel about this? Even if you are a novice trader we would still like to know your opinion!
Highest level = 1.1601
Lowest level = 1.1577
Volatility level = Expanding
Our Trading Predictions
We advise you to:
- Sell 65%
- Buy 45%
S3 = 1.1522 S2= 1.1541 S1 = 1.1673
R1 = 1.1627 R2 = 1.1634 R3 = 1.1672
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EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going upwards by a positive value of +0.43% and it is trading in the close vicinity of the 1.1589 level and it will rely on the 1.1623 level at first followed close up by the 1.1629 level and lastly by the 1.1745 point. On the other side of the medal by jumping past the 1.1535 level this will clear the trading path towards the 1.1468 level continuing with the 1.1299.
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