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 maintaining the bias remains unchanged and it is showing strong signs of moving downwards towards the 1.1250 thus setting new low levels for the trading.
EUR/USD currency trading is reacting to the Brexit negotiations
I have noticed that the EUR/USD shared currency pair will be staying in a defensive stance for the entire trading session and most probably until the end of the trading week. More important the trading cross is searching for a softer trading spot where the risk sentiment will be a lot lower, added up, all of this is offering a big helping hand for the USD.
As for data release I believe that the releases of the GDP data is having a significant impact on the currency trading process and so far it has managed to increase by a value of +0.2% on a monthly basis and by +1.7% on a year to year basis both predictions have managed to meet all expectations.
Why I think EUR/USD is one of the best currencies to trade right now
I have also noticed that the release of the Industrial Production figures in the European Union did not last as everyone expected thus going downwards by a negative value of -0.4% on a monthly basis.
At the same time in the European Union the EUR single currency is hoping to receive some positive influence from the Theresa May’s statements regarding the ongoing Brexit negotiations with the EU.
Across the ocean in the United States I believe that the release of the CPI data on the crude oil supplies will manage to offer a helping hand to the overall trading process.
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 1.3150 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 = 1.1283
Lowest level = 1.1242
Volatility level = Very High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 0%
Sell – 100%
S3 = 1.1322 S2= 1.1331 S1 = 1.1283
R1 = 1.1410 R2 = 1.1445 R3 = 1.1432
EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.20% and it is trading in the proximity of the 1.1267 level and it is in my belief that by jumping over the 1.1214 level this will clear the trading path towards the 1.1188 level at first and continuing with the 1.1118 level.
On the other side of the medal there are several solid levels beginning with the 1.1319 level followed close up by the 1.1357 level and ending with the 1.1389 level.
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