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EUR/USD currency trading is reacting to the Italian data

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

  • The EUR/USD currency trading is now showing a strong recovery across the chart.
  • The currency pair is reacting promptly to the Italian government budget tensions.
  • All eyes are now focused on the ECB President Mr. Mario Draghi and the EU economy.

According to today the EUR/USD shared currency pair is trading in the close vicinity of the 1.1320 level and it has managed to leave behind the 1.1305 level behind and it is showing strong signs of moving towards 1.1472 in the near future.

EUR/USD currency trading is receiving influence from Italy

I have noticed that at the beginning of the week the Italian government has managed to come to a clear draft budget for 2019 and this will definitely influence the European single currency and the excess deficit identified last week in Italy was based on only on wrong budget proposals. The bond yield is still showing some serious signs of improvement.

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At the same time across the ocean in the United States there is no significant data release mostly because of the recent holidays in which the figures were completely absent and did not offer any influence the currency trading process.

Why I think EUR/USD is one of the best currencies to trade right now

I have also seen that the European Central Bank has issued several policy updates and President Mario Draghi has taken the word in the EU Parliament and has underlined his worries regarding the evolution of the German economy and more important the economic risks that are beginning to appear in Italy on the budget crisis.

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 = 1.1386

Lowest level = 1.1322

Volatility level = High

Sell is the main action for EUR/USD currency trading

Today’s Forex predictions

Here is my EUR/USD forecast for tomorrow

Buy – 40%

Sell – 60%

S3 = 1.1295 S2= 1.1341 S1 = 1.1393

R1 = 1.1340 R2 = 1.1385 R3 = 1.1412

EUR/USD significant trading levels

Right now the EUR/USD shared currency pair is going upwards by a positive value of +0.1% and it is trading in the close vicinity of the 1.1362 level and it is relying heavily on the 1.1412 point followed close up by the 1.1409 point and lastly ending with the 1.1456 level.

On the other side of the coin I honestly believe that by jumping over the 1.1319 level this will definitely clear the trading path towards the 1.1222 level followed close up by the 1.1201 point.

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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