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 trading in the close vicinity of the 1.1380 level and it is already showing signs of moving downwards from this point and it is slowly becoming more and more volatile with each passing session.
EUR/USD exchange rate is keeping a close eye on the United Kingdom politics
I have recently noticed that the EUR/USD currency pair is now under a lot of trading pressure and it will definitely begin to draw a low correction line which will peak somewhere around the 1.1580 trading area and the lowest level will be in the proximity of 1.1370.
I also believe that the price action will once again take one for the entire team as in today’s trading session it will continue to stay restricted to certain trading ranges. Amidst this turmoil it seems that the trading markets’ attention is still focused on the incendiary Parliament vote in the United Kingdom. British headlines already speculate that Theresa May might not survive the no confidence vote.
Why I think EUR/USD exchange rate is one of the best currencies to trade right now
The economic calendar is rather empty today in the European Union and some vibes are coming in from the Italian CPI data as well as from the initial prints in Germany.
At the same time across the ocean in the United States the release of the Import and Export data prices have shown a slight increase in value because it has already went upwards by a positive value of +1.0% on a monthly 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 1.1480 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 = 1.1420
Lowest level = 1.1370
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 -0.17% and it is trading in the close vicinity of the 1.1399 level and it is relying heavily on the 1.1378 level followed close up by the 1.1356 point and lastly ending with the 1.1306 level.
On the other side of the medal by jumping over the 1.1424 point this will definitely clear the trading path towards the 1.1442 point followed close up by the 1.1471 level.
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