Are you searching for a strong currency pair which is racing upwards on the trading chart? Guess what? Now you can make some great Pips on the EUR USD!
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 USD movement in the market has managed to lift the currency pair way above the predicted values of today which is close to 1.1600.
- US DXY Index lost the 95.00 value and there is little support.
- EU’s German Production figures did not live to expectations.
According to FxEmpire.com today the EUR/USD currency pair is trading in the close vicinity of the 1.1600 level and there is a lot to say about the USD weakness and the US who now has managed to apply trade sanctions to countries such as Turkey, Iran and China most of which are huge market drivers, so basically the United States is making its national currency weaker with intention.
EUR/USD analysts have recently noticed that the EUR single currency has managed to catch a breath of fresh air and slide on the floating line of 1.1600.
EUR/USD currency pair influenced directly by Chinese markets
EUR/USD traders have noticed a softer tone around the Chinese Yuan but it has still managed to drag the USD/CNY currency pair even lower therefore having a huge negative effect on the US greenback, this came in as no surprise around the trade discussions between the US and China.
Back on the Old Continent the releases of the Industrial Production data in Germany has managed to let down investors as for the previous month the figures came in below most expectations going up by a small value of +0.6% on a monthly basis.
In the meantime across the ocean in the United States traders are waiting for the releases of the Job Openings data as well as for the IBD/TIPP index which to some extent will surely offer some influence for the trading process.
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? Do you think that record low level of the Chinese Yuan will last for long? Even if you are a novice trader we would still like to know your opinion!
Highest level = 1.1609
Lowest level = 1.1545
Volatility level = Expanding
Our Trading Predictions
We advise you to:
- Sell 26%
- Buy 74%
S3 = 1.1569 S2= 1.1578 S1 = 1.1497
R1 = 1.1692 R2 = 1.1702 R3 = 1.1715
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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 +0.42% and it is trading in the close vicinity of the 1.1603 level therefore by breaching the 1.1636 level this will clear the trading path towards the 1.1662 level and the 1.1745 point.
On the other side of the table there are several solid levels beginning with the 1.1527 point continuing with the 1.1508 level and lastly ending with the 1.1479 point.
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