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 pair today
According to FxEmpire.com today the EUR/USD currency pair is trading in the close vicinity of the 1.1600 level and at the bottom of this stands the upcoming release of the ISM Manufacturing data in the United States.
EUR/USD currency pair is patiently waiting for the release of the US ISM data
I now believe that the EUR/USD shared currency pair has managed to retake the 1.1600 significant level but there is no way of ruling out the appearance of the 1.1550 and 1.1570 levels on the trading chart in the very near future. Based on this statement I advise using a lot of caution.
Positive vibes are coming in from the European Union where the Italian government has managed to repair the internal issues regarding the budget discussions therefore the deficit is going up by +2.1%.
I also believe that the Italian budget negotiations have managed to create a series of tensions on the European Union who was already occupied with the UK and the Brexit discussions.
Live market charts
We want Forex to be all about profitable trading! Forex and Profits makes sure you have the latest live market charts available every day. I am using the ADX indicator as well as Bollinger bands with Moving Average and Stochastic Oscillator for the this currency pair. Only open new trades when all these indicators show a clear trend.
The chart is showing directions of today’s recommended currency pair. The chart for today shows it is in a clear bearish trend for the last few hours. 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
In the European Union I have noticed that the German Retail Sales data have managed to create a a negative wave thus further complicating the predictions around the release of the manufacturing PMI in the European zone.
At the same time across the ocean in the United States the release of the ISM figures for the previous month of September will definitely create a lot of friction across the trading chart.
Today I advise you to use the BUY action as much as possible!
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 1.1600 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 = 1.1622
Lowest level = 1.1579
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 85 %
Sell 15 %
S3 = 1.1422 S2= 1.1581 S1 = 1.1593
R1 = 1.1717 R2 = 1.1634 R3 = 1.1612
EUR/USD significant trading levels
For the time being the EUR/USD shared 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 and it will be relying heavily on the 1.1658 level followed close up by the 1.1690 point and lastly ending with the 1.1815 point.
On the other side of the medal by jumping over the 1.1567 level I believe that this will clear the trading path towards the 1.1526 level at first followed close up by the 1.1508 point.
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