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
- EUR/USD is now trading close to the 1.1370 level with very few variations.
- The US DXY index has posted a value close to 96.40.
- All eyes are now on the Brexit negotiations and the alternative to Theresa May’s second plan.
According to Fxempire.com today the EUR/USD currency pair is trading low in the proximity of the 1.1370 level and the economic sentiment is going to be extremely volatile across major global markets.
EUR/USD exchange rate looks to risk influence ignited by Brexit
I have noticed that the EUR/USD exchange rate is now building a lot of steam and there is plenty of selling pressure after the pair managed to touch the 1.1390 level. In addition to this the Asian trading session has managed to offer a breath of fresh air but as the European morning opened Brexit has managed to close that window and the trading cross is now under a lot of pressure.
I believe that in the near future in the United Kingdom Theresa May is going to come out with a brand new Brexit alternative plan.
The US DXY index has reacted promptly to Mr Draghi’s speech before the deliberating session of the European Parliament.
Why I think EUR/USD exchange rate is one of the best currencies to trade right now
Still in the European Union there are many social problems in France where the ‘yellow-vest’ protests continue to remain a huge problem.
I have read many analysis reports all of which are indicating a serious technical recession in Germany in the near future.
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 = 1.1340
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 exchange rate is going downwards by a negative value of -0.21% and it is trading in the vicinity of the 1.1364 level and I believe that by jumping over the 1.1421 level this will clear the trading path towards the 1.1442 level followed close up by 1.1461 point.
On the other side of the medal there are several solid levels beginning with 1.1353 followed close up by 1.1306 and lastly ending with 1.1269.
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