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 detail why this is going to happen and how can it be to your advantage.
- The EUR/USD currency pair goes down to a yearly low close to the 1.1360 level.
- The Turkish Lira is under a lot of pressure in the European markets.
- The US DXY index will continue to reside in a safe zone.
According to FxEmpire.com today the EUR/USD currency pair is trading close to a very low level next to 1.1360 which is a 13 month low point and at the bottom of this stands the ongoing economic crisis in Turkey due to the United States trade sanctions and the weak data release in Germany.
EUR/USD currency pair is at a record 13-month low, next to 1.1360
After reaching the 1.1360 level EUR/USD traders are now very interested to see if the buying action will help the trading cross go upwards close to the 1.1400 point just as the European Union trading session begins.
Spot dropped to the proximity of 1.1360 during early trade as the risk-associated complex remains under heavy pressure in response to the crisis around the Turkish Lira. Actually the TRY is at a record low and it seems that investors are taking action towards safer currencies such as JPY and CHF.
EUR/USD will be heavily influenced by Turkey
Right now there are no solid data releases or financial events in the European Union, for now everyone will keep a close eye on the Turkish TRY. At the same time across the ocean in the United States there are no relevant data releases.
Let us know how you feel about the trade sanctions in Turkey. Will the Turkish Lira recover? Even if you are a novice trader we would still like to know your opinion!
Highest level = 1.1410
Lowest level = 1.1360
Volatility level = Very High
Our Trading Predictions
We advise you to:
- Sell 70%
- Buy 30%
S3 = 1.1210 S2= 1.1295 S1 = 1.1352
R1 = 1.1502 R2 = 1.1591 R3 = 1.1502
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EUR/USD significant trading levels
Right now the EUR/USD currency pair is trading downwards by a negative value of -0.21% and it is trading in the close vicinity of the 1.1385 level. It is going to rely on support on the 1.1365 point at first followed close up by the 1.1312 level and lastly ending with the 1.1300 level.
On the other side of the medal by jumping over the 1.1559 level this will clear the path towards the 1.1623 level and lastly ending with the 1.1745 point.
We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!