Are you searching for a strong currency which is racing upwards on the trading chart? Guess what? Yeah, it is bearish right now, but soon you can make some great Pips on the EUR USD currency pair!
I will share what I believe about the EUR/USD movement on the trading chart today. I will explain in detail why this is going to happen and how it can be to your advantage.
- The EUR USD decline has stopped close to the 1.1600 level
- The US DXY index has reached the 95.00 value
- US data will offer plenty of influence
According to FxEmpire.com today the EUR USD shared currency pair is now trading in the close vicinity of the 1.1575 level and it is deploying a lot of effort in reaching back to the 1.1600 level and from this place it is going to search for support points.
EUR/USD is relying on trading data
EUR USD traders, analysts and investors are now very concerned about the management of the US and China trade dispute and it seems that President Donald Trump is doing what he knows best and that is to threaten peaceful negotiations by raising US prices by 25% from 10% on all Chinese products which are worth $200 billion, these events have already led in the pair’s fast decline to 1.1600 which is now desperately looking for support in order to avoid falling continuously to 1.1560.
On top of this the United States Consumer Confidence data did not come out as everyone hoped to and it is going to have a negative effect on the overall trading process.
EUR USD traders will be patiently waiting for the release of the Initial Claims as well as for the Factory Orders which hopefully will offer a softer tone to the trading process.
Let us know how you feel about the fact that the EU and US trade deal has transformed into a trade dispute? When will it end? Do you think that the release of the Initial Claims data will ease off some of the inflation levels? Even if you are a novice trader we would still like to know your opinion!
Highest level = 1.1669
Lowest level = 1.1602
Volatility level = Very high
Our Trading Predictions – Forex Forecast
We advise you to:
- Sell 28%
- Buy 72%
S3 = 1.1601 S2= 1.1632 S1 = 1.1644
R1 = 1.1688 R2 = 1.1714 R3 = 1.1720
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EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going downwards by a huge negative value of -0.40% and it is trading in the close vicinity of the 1.1613 level and it is relying on the 1.1608 level for support continuing with the 1.1575 level and lastly ending with the 1.1527 point.
On the other side of the table by jumping over the 1.1749 level this will clear the trading path towards the 1.1792 level at first continuing with the 1.1854 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!