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 under the influence of a significant selling action and the US DXY index is offering a lot of help in this direction and in no time we are going to see the trading cross close to 1.1300.
EUR/USD currency trading reacts to Brexit news headlines
I have noticed that at the beginning of the month the trading currency is at its third consecutive daily low and even though there is some buying interest surrounding the currency pair the cross will continue to levitate around the 1.1360 area.
There are several headlines around Brexit which has created a high risk sentiment across the chart which will eventually lead the cross towards the 1.1300 point with a few variations towards 1.1350 point.
In the meantime in the UK Mr. Raab has declared that a Brexit is probable to become real close to the 21st of November and Theresa May has made several improvements on the financial services with the European Union which will have a significant impact on the overall currency trading.
Why I think EUR/USD is one of the best currencies to trade right now
I believe that the recent activity of the Bank of England is going to be very vague in the near future. At the same time across the ocean in the United States the release of the ISM data will offer a huge value of influence. The main event of this trading session is going to be the release of the US labor data which I have noticed that it is going to be on the positive side of the trading chart.
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 1.1550 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 = 1.1381
Lowest level = 1.1308
Volatility level = Very High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 36 %
Sell 64 %
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 pair is going upwards by a very small value of +0.2% and it is currently trading close to 1.1357 and it is going to rely heavily on the 1.1401 point followed close up by 1.1467 and lastly ending with 1.1550.
On the other side of the table I believe that by jumping over 1.1302 this will clear the trading path towards 1.1299 followed close up by 1.1118.
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Live market charts
We want Forex to be all about profitable trading! Forex and Profits makes sure you have the latest live market charts available every day. I am using the ADX indicator as well as Bollinger bands with Moving Average and Stochastic Oscillator for the this currency pair. Only open new trades when all these indicators show a clear trend.
The chart is showing directions of today’s recommended currency pair. The chart for today shows it is in a clear bearish trend for the last few hours. Personally, I am using the ADX indicator to find good entry points on a 15 minute timeframe.
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