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 European single currency is trading in a very volatile manner and since the debut of the trading week the EUR/USD trading cross has been jumping back and forth between 1.1420 and 1.1370.
EUR/USD currency trading is receiving a lot of influence from the German data
I have noticed that the EUR/USD has managed to make some positive steps on the trading chart and it has recently managed to reach 1.1420 and I believe that all efforts will be channeled towards extending support around the 1.1400 level.
There is a lot of headline news showing that the Angela Merkel is going to either retreat or announce its participation for the next Chancellor position as well Parliament after 2021.
Strong influence is also coming in from the German political debates after Angela Merkel’s party managed to win the regional poll and at the same time the German CDU will continue to bring a lot of news.
Why I think EUR/USD is one of the best currencies to trade right now
At the same time across the ocean in the United States everyone is waiting for the release of the Personal Income data as well as the Spending index as well as the PCE inflation figures.
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 = 1.1418
Lowest level = 1.1370
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 trading is going upwards by a positive value of +0.12% and it is now close to 1.1401 therefore I believe that by jumping over 1.1332 this will clear the trading path towards 1.1316 followed close up by 1.1299.
On the other side of the medal there are several solid levels beginning with 1.1456 followed close up by 1.1497 and lastly ending with 1.1550.
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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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