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.
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Factors that might affect this pair today
- The EUR/USD currency pair is facing a lot of selling pressure underneath the 1.1500 level.
- The US DXY index keeps a firm grip on the 95.50 value.
- US Core CPI release shows and increase of +0.2% on a monthly basis.
According to Fxempire.com today the EUR/USD exchange rate is facing plenty of negative pressure and it has been building up steam on the trading chart and as a consequence it has quickly landed in the vicinity of the 1.1480 level.
EUR/USD exchange rate influence by the US figures
I have recently noticed that the EUR/USD shared currency pair has lost most of its positive momentum and the risk sentiment is growing bigger and bigger on the trading chart thus leading the trading cross above the 1.1580 trading zone.
In the meantime across the ocean in the United States the US DXY index is coming in back into positive territory just after United States inflation data followed by the CPI have managed to fall in line with most predictions.
On a closer analysis I have noticed that the CPI went downwards by a negative value of -0.1% and with the food and energy costs the overall gauge is that it went upwards by a value of +0.2% on a monthly basis and by +2.3% on a yearly pace.
Why I think EUR/USD is one of the best currencies to trade right now
I think that January will continue to be a difficult month for the European single currency and the USD-dynamics will be there to take advantage of all the commotion and try to serve a smaller risk while it is still growing with the US-China trade problems therefore the exchange rate will take its toll.
In the European Union the Italian political scenario is providing plenty of significant trading data and the French budget discussion are also liable to become a hot button, given the ongoing social uprisings in France
Today I advise you to use the SELL action as much as possible![maxbutton id=”2″ ]
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 = 1.1540
Lowest level = 1.1460
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 10%
Sell – 90%
S3 = 1.1295 S2= 1.1361 S1 = 1.1393
R1 = 1.1330 R2 = 1.1395 R3 = 1.1422
EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.35% and it is trading in the vicinity of the 1.1482 level therefore by breaching the 1.1477 level this will definitely clear the trading path towards the 1.1409 point at first followed close up by the 1.1306 level.
On the other side of the coin there are several solid levels staring with 1.1569 continuing with 1.1585 and lastly ending with the 1.1621 point.
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