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 currency pair today
· The EUR/USD currency pair is now leaving behind the 1.1690 level for the 1.1700 point.
· The US DXY index has posted a new low value close to 94.60.
· The release of the US Empire State index disappointed market participants because it came in low close to 19.00 for the previous month.
According to FxEmpire.com today the EUR/USD currency pair is trading in the vicinity of the 1.1700 and it seems that the trading cross won’t stop there because it has already received a lot of influence from the release of the United States Empire State index which has already dropped to 19.00.
EUR/USD currency pair is now reacting to the USD selling actions
Today I believe that the EUR/USD currency pair has reacted very much to the high demand for the European Union single currency which so far it has managed to stay solid a rock and just as the trading week begins the Euro seems to be in a very good position compared to USD. In addition to this I think that the 1.1690 level will become a support area for the currency pair very fast.
The US DEX index is still deploying a lot of effort in shaking off some of the past weeks low levels but so far it did not manage to make any progress whatsoever.
Live market charts
The chart is showing directions of today’s recommended currency pair. The EUR/USD chart for today shows it is in an down position. 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
I honestly believe that the shared currency pair movements comes as a quick response to the offered bias around the US greenback in which traders and investors are uncertain as how to act and on top of this there is still the ongoing problems between the United States and China on reaching a trade deal.
I also think that there will be a lot of weakness on the trading chart which will be coming in from the releases of the United States New York Empire State index which posted a low value close to the 19.00 for the previous month therefore missing the predicted value of 23.10 by a very long shot. In this upcoming week I recommend using a lot of caution!
Today I advise you to use the SELL action as much as possible!
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!
Forex and Profits presents Today’s Free Forex Signal
A summary of Highs and Lows for the EUR/USD
Highest level = 1.1705
Lowest level = 1.1628
Volatility level = Expanding
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Sell 85 %
Buy 15 %
S3 = 1.1712 S2= 1.1661 S1 = 1.1693
R1 = 1.1627 R2 = 1.1664 R3 = 1.1692
EUR/USD significant trading levels
For the time being the EUR/USD currency pair is going upwards by a positive value of + 0.55% and it is trading in the proximity of the 1.1687 level therefore I believe that by jumping over the 1.1724 level this will clear the trading path towards the 1.1745 level at first followed close up by the 1.1792 point.
On the other side of the table there are several solid points beginning with the 1.1617 level continuing with the 1.1526 level and lastly ending with the 1.1508 point.
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