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 shared currency pair is under the influence of a huge demand and this will ultimately lead the cross in the proximity of the 1.1320 level and there is a huge possibility that it is going to set up camp close to the 1.1350 level.
EUR/USD exchange rate is receiving strong influence from the Italian data
I have recently noticed that the EUR/USD shared currency pair has once again fallen close to the already weekly daily low levels and it has fallen as low as 1.1320 and the trading pace will be rather slow mostly because of the holiday in the US markets.
I believe that the trading process in the EU will encounter many situations in the near future mostly because of the recent jitters in Italy and as well from the Brexit negotiations.
Why I think EUR/USD is one of the best currencies to trade right now
Still in the European Union the EUR/USD exchange rate will be receiving plenty of influence from the releases of the Retail Sales data which has published a value of +0.3% on a monthly basis and a value of +1.7% on a yearly basis.
Across the ocean in the United States the Fed meeting is just around the corner and the ADP data along with the ISM non-manufacturing figures are the most important data releases of the day.
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 1.1280 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 = 1.1372
Lowest level = 1.1316
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 10%
Sell – 90%
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 I have noticed that the EUR/USD exchange rate went upwards by a small value of +0.1% and it currently trading in the vicinity of the 1.1357 level and I believe that by breaching the 1.1418 level this will clear the path towards the 1.1434 point followed close up by the 1.1473 point.
On the other side of the medal there are several solid points beginning with the 1.1264 level continuing with the 1.1214 level and lastly ending with the 1.1188 point.
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