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 shared currency pair is deploying a lot of effort in keeping its daily gains vivid but so far it seems that the 1.1600 level is still very far away from becoming a reality.
EUR/USD currency pair is reacting to the United States data releases
I believe that the EUR/USD shared currency pair will be trading in the close vicinity of the 1.1550 level for a while longer and at the bottom of this stands the most recent tensions in the Italian government.
Investors have quickly noticed that the Italian officials are hinting that there will be a deficit in 2020 and 2021. The same Italian government officials have also confirmed that the deficit will be somewhere around the 2.4% and so far it seems that the EU officials will have to take an official position about this predicament in order to limit all the negative effects that it is going to produce.
Live market charts
We want Forex to be all about profitable trading! Forex and Profits makes sure you have the latest live market charts available every day. I am using the ADX indicator as well as Bollinger bands with Moving Average and Stochastic Oscillator for the this currency pair. Only open new trades when all these indicators show a clear trend.
The chart is showing directions of today’s recommended currency pair. The chart for today shows it is in a clear bearish trend for the last few hours. 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
At the same time across the ocean in the United States the release of ADP report and the ISM Non-manufacturing data will be the most significant data releases.
I also think that the EUR/USD shared currency pair will try to push the trading cross upwards but without the necessary data to back this movement up it is well possible that in the near future the values are going to plunge even more.
Today I advise you to use the BUY action as much as possible!
Let us know how you feel about the fact that the EU German data has managed to influence the whole trading process in the European Union? Will the currency pair jump over the 1.1600 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 = 1.1592
Lowest level = 1.1529
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 90 %
Sell 10 %
S3 = 1.1422 S2= 1.1581 S1 = 1.1593
R1 = 1.1717 R2 = 1.1634 R3 = 1.1612
EUR/USD significant trading levels
For the time being the EUR/USD currency pair is going downwards by a negative value of -0.2% and it is currently trading in the close vicinity of the 1.1542 level and I believe that by jumping over the 1.1654 level this will clear the trading path towards the 1.1676 level at first followed close up by the 1.1815 level.
On the other side of the coin there are several solid levels beginning with the 1.1505 level continuing with the 1.1449 point and lastly ending with the low level of 1.1299.
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