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 is going upwards by a small value and it is ending the trading week close to the 1.1380 level, but the USD movement is under a huge pressure.
EUR/USD exchange rate is reacting promptly to the US trading session
I have noticed that the EUR/USD currency pair has halted progress close to 1.1382, but I think that there is still a long way in order to reach the 1.1400 level. There is however a recovery route on route but it cannot jump over the 1.1420 level, in best case scenarios.
The European Union data calendar is very empty with no notable data releases but the Italian budget draft is close to completion nonetheless the Holidays are just around the corner and the trading movement will be rather slow.
I have also noticed that the US DXY index is still on a positive step and so far it has managed to offer plenty of solid support for the USD single currency.
Why I think EUR/USD is one of the best currencies to trade right now
The greenback will continue to stay up until the middle of the next trading week keeping the value above 96.40 and there is a huge probability that it could jump as far as the 96.20 value.
At the same time in the United States the US economy has increased in volume by a positive value of +3.6% and the release of the PCE price index went upwards by a positive value of +1.9% on a yearly basis.
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 1.1380 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 = 1.1362
Lowest level = 1.1326
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 0%
Sell – 100%
S3 = 1.1295 S2= 1.1341 S1 = 1.1393
R1 = 1.1340 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 -0.1% and it is currently trading in the close vicinity of 1.1360 level and it is relying heavily on the 1.1290 point followed close up by the 1.1265 point and ultimately landing next to 1.1190.
On the other side of the coin there are several resistant levels starting with 1.1430 and ending with the 1.1490 level.
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