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 is deploying a lot of effort in keeping the trading pace unchanged but unfortunately due to huge efforts the trading cross is still above the 1.1400 level.
EUR/USD currency trading is influenced by the ECB conference
Today I believe that the EUR/USD currency trading will be highly influenced by the recent gains which have created some steam and this came in as no surprise because this began to happen as soon as the press conference held by Marion Draghi ended on a blank tone. At the same time the main trading point on the chart is still the 1.1430 level.
I think that Marion Draghi has unknowingly underestimated the importance of the monetary policies which need to be in accordance with the consumer prices in order to reach some significant progress.
Why I think EUR/USD is one of the best currencies to trade right now
ECB President M. Draghi has also mentioned that there is huge risk surrounding the economic growth of different economies and they need to be balanced out and he placed a lot of emphasis on the ongoing problems in Italy and of course the Brexit negotiations. These are considered to be the biggest problems in the EU right now. One thing is certain and that thing is that the currency trading process will be heavily influenced by the Italian outcome.
On top of this I have noticed that Maro Draghi avoided discussing about the lack of activity of the Council who eventually noted that the Italian government will have to reach a deal in the near future.
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 = 1.1433
Lowest level = 1.1365
Volatility level = Very High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 26 %
Sell 74 %
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 trading upwards by a positive value of +0.33% and it is trading in the close vicinity of the 1.1370 and it is deploying a lot of effort in jumping towards the 1.1428 level followed close up by the 1.1498 point and lastly ending with the 1.1520 level.
On the other side of the coin I believe that by jumping over the 1.1381 level this will clear the path towards the 1.1319 level at first followed close up by the 1.1299 desired point.
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