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 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 trading is facing a huge selling pressure which is surrounding the European Union single currency and on the trading chart it is manifesting as a new daily low point close to 1.1380.
EUR/USD currency trading is keeping a sharp eye on the United States elections
I have noticed that the EUR/USD trading cross is now in the close vicinity of 1.1400 and as the trading week begins to move forward I’ve seen that there is already a lot of trading fear on the chart most of which has been generated by the United States mid-term elections.
I believe that for a while longer the trading cross is going to stay in the proximity of the 1.1400 zone and there is still a long road until the trading cross is going to reach the 1.1300 area where we can find all YTD low points.
Why I think EUR/USD is one of the best currencies to trade right now
In the meantime in the European Union the release of the German data as well as the EMU PMI managed to land above most predictions for the previous month. I have also noticed that the Producer Prices in the European zone went upwards by a positive value of +0.6% thus directly influencing the EU currency trading.
At the same time across the ocean in the United States everyone is waiting patiently for the release of the IBD-TIPP index as well as the JOLT Job posts.
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 = 1.1439
Lowest level = 1.1392
Volatility level = Very High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 45 %
Sell 55 %
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 shared currency pair is going upwards by a positive value of +0.5% and it is trading in the close vicinity of the 1.1408 level and I believe that by jumping over the 1.1372 level this will definitely clear the trading path towards the 1.1334 level at first and followed close up by 1.1316 point.
On the other side of the medal there are several solid levels beginning with the 1.1458 point and continuing with 1.1508 and lastly ending with 1.1550.
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