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 solid 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 currency pair is jumping back and forth between levels around the 1.1600 point.
- The US DXY index is barely hanging on to 95.00.
- US Producer Prices and the Initial Claims are the most important data releases of today.
According to FxEmpire.com today the EUR/USD currency pair is receiving a lot of influence from the United States trade sanctions on Turkey which because of this now has a two digit inflation figure and the Turkisl Lira it is slowly sinking on the trade market
EUR/USD analysts are now waiting for some news from the European Union.
EUR/USD currency pair hopes to jump over 1.1600
EUR/USD traders now believe that the currency pair is going to search for support around the 1.1600 value and so far the US DXY index is not helping too much.
Right now there is a huge lack of data releases in the European Union and everyone is still keeping a close eye on the trade negotiations between US and China, also the United States has started imposing economic sanctions on Russia too.
EUR/USD analysts believe that the release of the Producer Prices in the US will offer a softer tone to the overall trading process at the same time analysts hope that the United States labor data release will also influence the market.
Let us know how you feel about the fact that the US and China trade deal has transformed into a trade dispute? When will it end? Will Turkey re? Even if you are a novice trader we would still like to know your opinion!
Highest level = 1.1621
Lowest level = 1.1579
Volatility level = Shrinking
Our Trading Predictions
We advise you to:
- Sell 45%
- Buy 65%
S3 = 1.1562 S2= 1.1513 S1 = 1.1522
R1 = 1.1683 R2 = 1.1522 R3 = 1.1685
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EUR/USD significant trading levels
For the time being the EUR/USD currency pair is going upwards by a positive value of +0.3% and it is trading in the close vicinity of the 1.1608 level also by breaking the 1.1653 door this will clear the trading path towards the 1.1665 level at first and lastly ending with the 1.1745 point.
On the other side of the coin there are several solid levels beginning with 1.1527 followed close up by the 1.1508 point and lastly ending with 1.1479.
We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!