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 start your journey in the Forex world of trading.
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 is losing most of its initial gains as it reached 1.1630.
- The US DXY index is receiving plenty of support around the 95.00 value.
- Trading markets continue to stay focused on the US and China never ending trade discussions.
According to FxEmpire.com today the EUR/USD currency pair is under a lot of pressure from the unending trade negotiations between China and the United States and on top of this it seems that the US is preparing some serious trade sanctions for Iran.
Amidst this chaos of sharp movements on the chart it seems that the shared currency pair has managed to jump over the 1.1630 level and since the beginning of the trading session there has been a huge selling interest this however has managed to bring the trading cross a few times downwards close to 1.1590 but for now the cross is advancing upwards in a slow manner.
EUR/USD currency pair influenced poorly by the USD
EUR/USD traders now feel confident that the trading cross is not going to lose the 1.1600 level and with some help from the recovery of the US DXY index which is now close to 95.00 the currency pair will slowly begin to climb back to 1.1650 until the trading session ends.
Unfortunately across the ocean in the United States there is a huge gap in data releases today and no positive support will be coming from there and on top of this it seems that the ongoing trade negotiations seem to last forever between the US and China. As if this was not enough the US is preparing a set of economic sanctions for Iran.
Hopefully in the European Union traders have found some positive movement in the releases of the Italian budget and Conte has affirmed that it is going to be as solid as ever.
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 the Iran sanctions is a good idea for the overall trading process? Even if you are a novice trader we would still like to know your opinion!
Highest level = 1.1628
Lowest level = 1.1571
Volatility level = Shrinking
Our Trading Predictions
We advise you to:
- Sell 46%
- Buy 64%
S3 = 1.1569 S2= 1.1518 S1 = 1.1527
R1 = 1.1687 R2 = 1.1524 R3 = 1.1689
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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 +0.2% and it is trading in the close vicinity of the 1.1598 level and it is relying on the 1.1527 level followed close up by the 1.1508 point and lastly ending with the 1.1479 level.
On the other side of the table the currency pair will have to jump over the 1.1635 point in order to reach the 1.1661 level at first and followed shortly after by the 1.1745 point.
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