EUR USD down to 1.1700 due to US trade war

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 pair!

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.

  • EUR USD is deploying a lot of effort in keeping the 1.1700 level.
  • The US DXY has managed to post around the 94.80 value.
  • The releases of the ADP data in the US has brought little satisfaction.

 According to FxEmpire.com today the EUR/USD shared currency pair is trading in the low side of the trading chart mostly because of the ongoing trade war between the US and China and the currency pair is trading in the close vicinity of the 1.1675 level with very few chances of going upwards close to the 1.1700 level.

EUR USD, forex forecast

Forex Forecast: EUR/USD influenced heavily by the US data

EUR/USD analysts now believe that the shared currency pair is under a lot of pressure mostly because of the ADP data released earlier in the United States which has managed to surprise almost every market participant because of the low figures but in the meantime the trading cross is keeping a tight grip on the 1.1700 level.

More important today both traders and analysts will be waiting for the release of the US ISM manufacturing data for the previous month just before the FOMC conference begins.

Let us know how you feel about the EU and US trade deal? When will it end? Do you think that the release of the ISM manufacturing 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 = 1.1726

Lowest level = 1.1665

Volatility level = Normal

 

Our Trading Predictions

We advise you to:

  • Sell 28%
  • Buy 72%

 

S3 = 1.1623 S2= 1.1641 S1 = 1.1710

R1 = 1.1810 R2 = 1.1812 R3 = 1.1840

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EUR/USD significant trading levels

For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.3% and it is trading in the close vicinity of the 1.1689 level and it is relying heavily on the 1.1625 level continuing with the 1.1575 point 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 followed close after the 1.1853 point.

We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!

 

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