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 there is a huge selling pressure building up around the currency trading process which will continue to stay in the lower part of the trading chart until the end of the trading week hovering above 1.1360 and 1.1350.
EUR/USD currency trading is receiving strong feedback from the German data
I believe that the EUR single currency will continue to stay very fragile for a while longer mostly because of the Italy discussion over the budget cuts.
On top of this traders will continue to speculate the involvement of the German Chancellor Angela Merkel in the upcoming elections or maybe she might refuse to be re-elected for the 2021 Parliament elections.
Angela Merkel has recently declared that she is very happy with the voter’s sheer support which will have a pretty big influence on the overall political activity of the German CDU.
Why I think EUR/USD is one of the best currencies to trade right now
In the meantime I have noticed that the release of the CPI data in Spain is going to have a significant on the consumer prices which have already been predicted to go upwards by a positive value of +0.3% on a monthly basis and by 2.3% on a year to year basis.
Across the ocean in the United States the release of the EMU GDP data will definitely have a significant influence on the currency trading which will also have to react to the German CPI 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 = 1.1347
Lowest level = 1.1338
Volatility level = Very High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy 26 %
Sell 74 %
S3 = 1.1422 S2= 1.1411 S1 = 1.1373
R1 = 1.1520 R2 = 1.1544 R3 = 1.1532
EUR/USD significant trading levels
For the time being the EUR/USD currency pair is going downwards by a negative value of -0.5% and it is trading in the close vicinity of the 1.1362 level and I believe that by jumping over the 1.1356 level this will cleat the trading path towards 1.1316 which will be followed close up by 1.1299.
On the other side of the medal there are several solid levels starting with 1.1431 continuing with 1.1485 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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