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 pair is hasting its trading pace in the European Union trading session where the EU single currency is losing significant ground and the trading cross is now setting up camp close to 1.1450.
EUR/USD currency trading has jumped over 1.1480
I now believe that the trading cross has managed to move high towards a new fresh set of multi-day top levels and in my opinion this comes in as no surprise because the reaction to this drop was just around the corner. I also think that behind this stands the recent post of the US DXY index which is also promptly reacting to the mid-term elections in the United States.
As I have already predicted earlier the US elections have shown that Democrat party has managed to regain most of its control of the House of Representatives, and in the same time the Senate will continue to stay under the Republican banner and this will seriously influence the currency trading.
Why I think EUR/USD is one of the best currencies to trade right now
On top of the US elections further positive data is coming in from across the ocean where the US DXY index has posted a value close to 95.90.
I have noticed that in the European Union the release of the Industrial Production figures in Germany has managed to reveal an increase in volume by +0.2% for the previous month.
I am already waiting for the release of the Retail Sales tracked by the EMU which will come into the light in the NY trading session.
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 1.4150 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 = 1.1490
Lowest level = 1.1412
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 30 %
Sell 70 %
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 positive value of +0.23% and it is trading close to 1.1451 and it is relying heavily on 1.1473 followed close up by 1.1508 and lastly ending with 1.1550.
On the other side of the coin I believe that by jumping over the 1.1372 level this will definitely clear the trading path towards the 1.1334 at first followed close up by 1.1316 level.
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!