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 the EUR/USD shared currency pair has had one single attempt at jumping over the 1.1400 level at the beginning of the week and from then it has been on a one way trip downwards and right now it is already trading under 1.1300.
EUR/USD exchange rate is going under 1.1300 fast
I believe that the EUR/USD shared currency pair is going to trade for the entire week close to the 1.1300 and 1.1350 levels with very few variations and almost at the end of the week will the trading cross try to jump towards the 1.1400 level. There have also been several losses registered for the currency pair.
There are many positive vibes coming in from the releases of PPI data which has managed to jump upwards by a positive value of +0.3% for the previous month and by +2.8% on a yearly basis.
I also believe that the entire trading week will be marked by ongoing budget discussions in Italy and recently the Italian finance minister has declared that there will not going to be any major modification in the present budget draft. Hopefully the European Commission will have to say a word about this blockage.
Until the end of the trading week I feel confident that the EUR/USD exchange rate will continue to find plenty of support in the proximity of the 1.1300 level.
Why I think EUR/USD is one of the best currencies to trade right now
I believe that across the ocean in the United States traders will send positive vibes on the trading chart due to the releases of the Initial Claims figures which have managed to go upwards close to the by 234.000. On top of this the United States trade deficit is now somewhere close to $55,8billion.
In the near future I think that the EUR/USD shared currency pair will continue to rest for a while under the 1.1400 value and it will definitely continue to receive solid influence from Italy and Brexit in the European Union.
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 = 1.1352
Lowest level = 1.1306
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 25%
Sell – 75%
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 exchange rate is going upwards by a negative value of -0.11% and it is trading in the close vicinity of the 1.1311 level and I believe that by breaching the 1.1378 level this will clear the trading path towards the 1.1434 level at first followed close up by the 1.1423 point.
On the other side of the medal there are several solid levels starting with 1.1224 continuing with
1.1204 and ending with 1.1088.
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