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 shared currency pair will keep on struggling at the middle of the trading week in the vicinity of the 1.1280 level and it is going to receive a lot of influence from US data releases.
EUR/USD currency trading is receiving a lot of influence from J. Powell’s speech
I have recently noticed that the EUR/USD currency trading is receiving a lot of influence from US data release and this will further add to the already existing pressure on the trading chart. More important I believe that after jumping the 1.1300 level this will definitely clear the trading path towards the 1.1260 level at first and it is going to search for some support in the proximity of the 1.1265 level.
Why I think EUR/USD is one of the best currencies to trade right now
Back on the old continue in the EU there is still very few news regarding the Brexit negotiations and the GBP is slowly going downwards and it will quickly bring a strong Euro weakness across the trading charts.
At the same time across the ocean in the United States the most expected event of today is the release of the Q3 GDP data followed shortly after by the New Home Sales figures for the previous month and the most important event of today will be the speech held by J.Powell at the Economic Club in New York and will definitely influence the currency trading.
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 1.1280 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 = 1.1304
Lowest level = 1.1296
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 10%
Sell – 90%
S3 = 1.1295 S2= 1.1341 S1 = 1.1393
R1 = 1.1340 R2 = 1.1385 R3 = 1.1412
EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going downwards by a negative value of 0.6% and it is trading in the proximity of the 1.1287 point therefore I believe that by breaching the 1.1267 level this will clear the trading path towards the 1.1214 level at first followed close up by 1.1188.
On the other side of the table I have noticed that there are several solid points beginning with the 1.1357 point followed by the 1.1434 point and lastly ending with the 1.1473 point.
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