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 within positive territory on the chart and even though hopes are still up there is still very little chance for the trading cross to climb towards the 1.1400 zone as there is a lot of resistance at the horizon.
EUR/USD currency pair is reacting to the US figures
I have noticed that the 1.1420 level is the most expected level of the trading session and until it reaches that point it requires jumping over the 1.1400 which is going to be fairly difficult to achieve because of the United States inflation.
In other words I believe that the releases of the PCE figures went upwards by a positive value of +1.8% on a monthly basis. Furthermore I think that the United States will post the Initial Claims figures went close to the 234 value and the Personal Income data also went upwards by a value of +0.5% on a month to month basis, moreover positive vibes are also coming in from the Personal Spending data.
Why I think EUR/USD is one of the best currencies to trade right now
In the European Union the release of the CPI data in Germany has managed to show that the consumer prices are going upwards by a value of +2.4% on a year to year basis and by an +0.2% monthly basis.
At the same time across the ocean in the US the Home Sales data is just around the corner as well as the FOMC minutes
Today I advise you to use the SELL action as much as possible!
Let us know how you feel about the fact that the Brexit negotiations have managed to influence the whole trading process in the European Union? Will the currency pair jump over the 1.1280 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 = 1.1384
Lowest level = 1.1346
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 40%
Sell – 60%
S3 = 1.1295 S2= 1.1341 S1 = 1.1393
R1 = 1.1340 R2 = 1.1385 R3 = 1.1412
EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going upwards by a positive value of +0.03% and it is currently trading in the vicinity of the 1.1374 level and I believe that by jumping over the 1.1402 level this will definitely clear the trading path towards the 1.1434 level at first followed close up by the 1.1473 point.
On the other side of the coin there are several solid levels beginning with the 1.1267 point continuing with the 1.1214 level and lastly ending with the 1.1188 point.
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