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 continuing to trade close to 1.1600 .
- The US DXY index is now above the 95.00 value.
- There many positive vibes coming in from the releases of the manufacturing PMI in Germany.
According to FxEmpire.com today the EUR/USD shared currency pair is trading with speed around the 1.1610 level but believe that in the near future the trading cross is going to set up camp close to the 1.1600 point until the trading session ends, with very few variations.
EUR/USD currency pair is receiving positive influence from Italy
I believe that the EUR/USD currency pair is going to trading for quite some time around the 1.1600 level and in tomorrow’s session there is a huge probability that the trading cross will fall downwards close to 1.1590.
The opening of the trading session in the European Union has been marked by several positive data releases especially with the production figures in Italy which has managed to chase away all negative feelings surrounding the currency pair. The German manufacturing PMI also came in very good around the 55.6 value and the EMU close to 54.7 for the previous month of August.
US-China Trade Deals is creating a lot of pressure
I think that there are many negative vibes coming in from the never ending trade disputes between the United States and China trade deals and so far I have seen that the Chinese are really trying to offer a fair trade deal to the US but it seems that the discussion are far from over, nonetheless this frictions between the two economic giants is going to create a lot pressure in the international market.
Traders and analysts are waiting patiently for the CFTC report which will land according to most predictions it will offer further positive influence for 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 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!
A summary of Highs and Lows for the EUR/USD
Highest level = 1.1628
Lowest level = 1.1524
Volatility level = Increasing
Today’s Forex forecast – We advise you to:
- Sell 71%
- Buy 29%
S3 = 1.1632 S2= 1.1651 S1 = 1.1753
R1 = 1.1637 R2 = 1.1644 R3 = 1.1692
Are you in need of a good Forex broker? Do you need investment advice? We have all the solutions to all your problems! Our professionals recommend you open an account with these brokers: AAAfx or Zulutrade. Both are amazing in customer care service and offer a robust and productive trading experience. Increase your capital today!
EUR/USD significant trading levels
For the time being the EUR/USD currency pair is going downwards by a negative value of -0.14% and it is trading in the close vicinity of the 1.1624 level therefore I believe that by jumping over the 1.1734 level this will clear the trading path towards the 1.1745 level at first followed close up by the 1.1792 level.
On the other side of the table there are several solid level beginning with the 1.1617 point continuing with the 1.1544 point and lastly ending with the 1.1508 level.
We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!