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 trading in the close vicinity of the 1.1760 having quickly recovered from the low point of 1.1730 and so far I believe that the trading cross will continue to climb on the trading chart.
EUR/USD influenced heavily by the European Central Bank
I believe that today we won’t be seeing any low levels similar to the 1.1730 point when the trading session began and so far it seems that the pair has managed to pick up the trading pace on the market and it is already showing solid signs of setting up camp close to the 1.1760 level. I also believe that it is very possible for the EUR/USD to reach the 1.1800 level by the end of this trading session.
A significant amount of influence came from the Mario Draghi’s speech in the European Parliament this event will eventually push the currency pair towards the 1.1800 level.
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
At the same time across the ocean the trade deal between US and China is having serious problems and it seems that investors and traders have stopped caring about this never ending failure in negotiation and it does not longer represent a market mover especially for the USD.
Back on the old continent the European Cetranl Bank members P.Praet and B.Coeure will both hold a speech on the economic sentiment in the European Union.
Today I advise you to use the SELL 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 = 1.1742
Volatility level = High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Sell 70 %
Buy 30 %
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 1.1760 level therefore I believe that by jumping over the 1.1815 level this will clear the trading path towards the 1.1853 level at first followed close up by the 1.1946 point.
On the other side of the table there are several levels beginning with the 1.1701 level continuing with the 1.1663 level and lastly ending with the 1.1526 level.
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