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 exchange rate 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 exchange rate has received a lot of influence from the YTD low level and the trading cross has camped for a while next to 1.1300 and it is now showing strong signs of moving upwards in the vicinity of 1.1380 where solid resistance awaits.
EUR/USD exchange rate is building up a lot of steam
I have noticed that the 1.1380 level is going to be the sharpest trading zone for a while longer and due to the recent sell off ignition the exchange rate has managed to leave behind the 1.1300 level.
I also believe that the European single currency has been influenced by ECB President Mario Draghi who has stated that the economic outlook is reacting promptly to all kinds of risks and chances are low that there will be a recession in the near future.
At the same time in the United States the release of the Initial Claims have shown a worrying value of 199K, since October 1969 there has not been a reading under 200K. On top of this the PMI prints landed in the vicinity of the 54.9 level and the services landed next to 54.2 under most expectations.
Why I think EUR/USD exchange rate is one of the best currencies to trade right now
Back on the old continent the European Central Bank is going to keep a close eye on the upcoming data releases in the European Union most important major policymakers have declared that the ECB will not make any changes on any rates.
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 1.1480 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 = 1.1390
Lowest level = 1.1350
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 5%
Sell – 95%
S3 = 1.1255 S2= 1.1331 S1 = 1.1343
R1 = 1.1320 R2 = 1.1385 R3 = 1.1412
EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.19% and it is trading in the proximity of 1.1360 and it is going to rely heavily on the 1.1306 level continuing with 1.1269 and lastly ending with 1.1215.
On the other side of the medal by jumping over the 1.1396 level this will clear the trading path towards the 1.1415 level at first followed close up by 1.1442 level.
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