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 at the beginning of the trading week the EUR/USD currency pair is still trading downwards and there is positive influence coming in from the US DXY index which is moving the trading cross towards 1.1370.
EUR/USD currency trading is now receiving solid influence from the US trading data
Today I have noticed that the EUR/USD currency trading is not in such a good trading form mostly because there is a lot of selling steam building up since last week when the trading week ending around the 1.1370 point and today it seems that this spot is a key trading zone.
I believe that an important source of influence is coming in from the United States and China trade disputes. At the same time negative influence is coming in from the Brexit negotiations, but everyone will be keeping a close eye on the release of the United States labor data.
Why I think EUR/USD is one of the best currencies to trade right now
As for data releases I have noticed that the release of the Sentix index data will underline the current confidence in the European Union which has reached a low value of 8.6 for the previous month.
At the same time across the ocean I have noticed that the release of the PMI prints for the previous month are rather good and it comes next in line to the ISM Non-manufacturing data.
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 = 1.1409
Lowest level = 1.1344
Volatility level = Very High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 35 %
Sell 65 %
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 downwards by a negative value of -0.17% and it is trading in the vicinity of 1.1369 and I believe that by jumping over 1.1334 this will definitely clear the trading path towards 1.1316 at first followed close up by 1.1301.
On the other side of the medal there are several solid points beginning with 1.1458 followed close up by 1.1508 and lastly ending with 1.1550.
We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!
Are you in need of a good forex broker?
Are you in need of a good Forex broker? Do you need investment advice? We have all the solutions to all your problems! Our professionals recommend you open an account with these brokers: AAAfx or Zulutrade. Both are amazing in customer care service and offer a robust and productive trading experience. Increase your capital today!