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 European single currency is trading on a constant tone in the proximity of the 1.1430 level and there are already many solid hints that the trading cross will go towards the 1.1460 level in the near future.
EUR/USD currency trading is waiting for the FOMC data
I have recently noticed that the EUR/USD currency pair is now deploying a lot of effort in avoiding some weak levels which are just around the corner and more positive data is needed to jump past the 1.1500 significant level in order for the cross to progress.
I believe that the trading tone will be a lot better in the near future and the risk sentiment will drop towards the end of the trading week which is definitely going to be marked by the weakness in the US DXY index which is going to directly influence the overall currency trading.
Why I think EUR/USD is one of the best currencies to trade right now
A lot of influence is also going to come in from the United States mid-term elections that have managed to jump towards a better spot on the trading chart.
In the meantime on the old continent in the European Union the release of the trade surplus figures in Germany has disappointed many market participants and the import and export figures have gone upwards by a small value of +0.4% on a monthly basis and by +0.8% on a yearly basis.
I believe that the FOMC meeting in the United States will greatly offer a strong impulse for the overall trading process as it has been predicted to be highly positive.
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 = 1.1448
Lowest level = 1.1392
Volatility level = High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 30 %
Sell 70 %
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 downwards by a negative value of -0.53% and it is currently trading in the close vicinity of the 1.1435 level and I believe that it is going to rely heavily on the 1.1500 level followed close up by the 1.1508 point and lastly ending with the desired 1.1550.
On the other side of the medal I believe that by jumping over the 1.1393 level this will definitely clear the trading path towards the 1.1372 level and lastly ending with the 1.1334 level.
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