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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
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According to FxEmpire.com today the EUR/USD currency pair is under the influence of a strong selling pressure which will continue to shadow the European Union single currency until the end of the trading session and it will struggle to hold the 1.1300 point as long as possible.
EUR/USD currency trading is reacting fast to US trading data
I have recently noticed that the EUR/USD shared currency pair is trading on a defensive stance and it will continue to do so until volatility levels for the GBP drop, unfortunately this is not going to come any time soon as the PM of UK has announced that the Brexit negotiations are going smooth and very fast.
Many members of PM May’s cabinet have already resigned earlier today.
On top of this I think that the downtrend is going to receiving negative influence from the United States Retail Sales figures which so far have managed to increase in value by a +0.8% on a monthly basis.
Why I think EUR/USD is one of the best currencies to trade right now
At the same time the Core sales also went upwards by a total value of +0.7% therefore jumping over most predictions.
I believe that the release of the Initial Claims data has had a major impact on the overall currency trading process mostly because it has jumped over 218K in no time and the NY Empire State index has landed above the predicted value of 19.3 close to 23.4.
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 1.3150 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 = 1.1383 Lowest level = 1.1262 Volatility level = Very High
Today’s Forex predictions Here is my EUR/USD forecast for tomorrow Buy – 0% Sell – 100% S3 = 1.1322 S2= 1.1331 S1 = 1.1283 R1 = 1.1410 R2 = 1.1445 R3 = 1.1432 |
EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.6% and it is trading close to 1.1302 but I believe that by jumping over the 1.1214 level this will definitely clear the trading path towards 1.1188 at first followed close up by 1.1118.
On the other side of the medal there are several solid points beginning with 1.1341 continuing with 1.1351 and lastly ending with 1.1382.
We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!
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