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 currency pair is under the pressure of a strong demand for the European single currency and the beginning of the week has brought new low levels all of which are around 1.1400.
EUR/USD exchange rate has reacted to recent EU data
I have recently noticed that the EUR/USD currency pair is under a strong selling pressure because of the Industrial Production data release in the European Union and came in below 1.7% thus missing most expectations.
The beginning of the week has also been marked by the release of the US DXY index which has posted a value close to 95.70.
Why I think EUR/USD is one of the best currencies to trade right now
I have also noticed that huge influence is coming in from the ongoing negotiations between the United States and China on the trade front and also from the continuation of the United States partial shutdown.
I now think that the release of the Industrial Production data in the European Union has managed to underline the idea of a slow and poor performance in the euro zone for the second half of 2018.
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 = 1.1482
Lowest level = 1.1450
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 exchange rate is going upwards by a positive value of +0.08% and it is trading in the close vicinity of the 1.1462level therefore by breaching the 1.1447 level this will definitely clear the trading path towards the 1.1411 level followed close up by 1.1306.
On the other side of the coin there are several solid levels beginning with 1.1569 continuing with 1.1585 and lastly ending with 1.1621.
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