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 trading 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 detail why this is going to happen and how it can be to your advantage.
|Factors that might affect this pair today
According to FxEmpire.com today the EUR/USD trading cross is under a lot of selling pressure which will continue to hover across the trading chart and it will dominate the European single currency until the end of the trading week and the 1.1340 will be the main point.
EUR/USD currency trading is reacting to Italian data and Brexit news
I have recently noticed that the EUR/USD currency pair is paying the price for the failure between the UK-EU Brexit negotiations and as if this was not enough the ongoing tensions in the Italian government are having a significant impact on the overall trading process and on the EU single currency thus further enhancing the bearish movement.
I believe that a great deal of pressure is also coming in from across the ocean in the United States where the FOMC meeting did not end as many expected it to. More important the United States Fed is currently working on a new monetary policy update, but many voices already say that it is going to remain unchanged for the time being and offer little influence for the overall currency trading.
Why I think EUR/USD is one of the best currencies to trade right now.
As for data release I believe that the release of the Producer Prices in the United States has managed to surprise a lot of market participants by the value of +0.6% on a monthly basis and by 2.9% on a yearly basis. At the same time the Core prices also went up by 0.5% on a regular monthly basis and by 2.6% for the previous year.
Today I advise you to use the SELL action as much as possible!
Let us know how you feel about the fact that the EU Italian data has managed to influence the whole trading process in the European Union? Will the currency pair jump over the 1.4150 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 = 1.1362
Lowest level = 1.1312
Volatility level = High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 10%
Sell – 90%
S3 = 1.1412 S2= 1.1421 S1 = 1.1383
R1 = 1.1510 R2 = 1.1554 R3 = 1.1542
EUR/USD significant trading levels
For the time being the EUR/USD currency pair is going downwards by a negative value of -0.11% and it is trading in the vicinity of the 1.1356 level. I believe that by jumping over the 1.1328 level this will clear the trading path towards the 1.1314 level followed close up by the 1.1299 point. On the other side of the medal there are several solid levels beginning with 1.1500 followed close up by 1.1508 and lastly ending with 1.1550.
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