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 pair is under a lot of selling pressure which is shadowing the European Union single currency and so far it has shown an increase in speed on the chart having already touched the 1.1270 level.
EUR/USD currency trading is receiving influence from the Brexit negotiations
It is in my belief that the EUR/USD shared currency pair is now under a huge amount of pressure and the trading cross will be extending its negative positions even as the trading week begins. I have also noticed that the shared currency pair is now a very long way from the desired level of 1.1500.
The ongoing Brexit negotiation will continue to lead the market into a high risk zone and on top of this there are the Italian political predicaments.
I have also noticed that earlier today the UK PM Theresa May has managed to announce that there is a solid solution for the Irish border problems.
Why I think EUR/USD is one of the best currencies to trade right now
Still in the European Union I have seen that the Italian government is still drafting a better budget for the European Union Commission and optimism continues to be very low regarding this.
As for data releases I have noticed that the Industrial Production figures have been announced earlier in Italy and this is the most important news in the EU.
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 = 1.1293
Lowest level = 1.1262
Volatility level = High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 0%
Sell – 100%
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 trading is going low by a negative value of -0.56% and it is trading close to the 1.1278 level and I believe that by breaching the 1.1269 level this will clear the trading path towards the 1.1188 level at first followed close up by the 1.1118 point.
On the other side of the medal there are several solid levels beginning with 1.1369 followed close up by the 1.1419 level and lastly ending with 1.1502.
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