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 has managed to jump past the 1.1500 level.
- The US DXY index is reacting at the many selling actions because of the US President Trump commentaries.
- Turkey economic measures are still offering a lot of influence for the overall trading process.
According to FxEmpire.com today the EUR/USD shared currency pair is trading with a solid move around the 1.1520 level and it is showing signs of setting up camp and it will receive a lot of influence from the United States data releases but before going higher it will have to bypass a mountain of resistance.
EUR/USD currency pair is relying on the USD selling actions
Today the EUR/USD currency pair is under a strong selling pressure which has been building up around the US DXY index and it has already began to pick up the pace since the debut of the trading session ultimately the trading cross has landed close to the 1.1500 significant point.
EUR/USD analysts believe that the YTD low levels are now behind because the 1.1500 is already becoming a solid camp point for the trading cross.
In the meantime across the ocean in the United States the US greenback is receiving plenty of negative influence from its own national President who has already launched negative comments on the activity of the US DXY and also criticized its own US Federal Reserve therefore further weakening the USD right in the middle of the trade disputes with China. Until now no one knows why a President would intentionally affect in a negative way its own national currency.
The data calendar is rather empty today with very few data release but everyone is keeping a close eye on the Turkish economic headlines and how the Lira will behave.
Let us know how you feel about the fact that the US is directly having a negative effect on the Turkish market? Why is President Trump shouting negative commentary at its own US Fed? Let us know how you feel about this? Even if you are a novice trader we would still like to know your opinion!
Highest level = 1.1543
Lowest level = 1.1486
Volatility level = Expanding
Our Trading Predictions
We advise you to:
- Sell 60%
- Buy 40%
S3 = 1.1418 S2= 1.1439 S1 = 1.1468
R1 = 1.1510 R2 = 1.1529 R3 = 1.1557
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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 +0.38% and it is trading in the close vicinity of the 1.1526 level thus by breaching the 1.1550 level this will clear the trading path towards the 1.1629 point and continuing with the 1.1745 level.
On the other side of the medal there are several levels beginning with the 1.1448 point continuing with the 1.1299 level and lastly ending with the 1.1180 point.
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