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 has started the week on fairly positive trading tone having managed to shake off the low levels of 1.1380 and it is already looking towards higher levels close to 1.1400.
EUR/USD exchange rate is reacting to Mario Draghi
I have noticed that the trading week began on a positive note and it came as a breath of fresh air adding to Friday’s recorded gains and brought some new gains today. I have also noticed that the currency pair is looking for a place to set on consolidation path. With these efforts it is highly possible that the trading cross will leave behind the 1.1400 level and with a renewed selling bias the risk sentiment will keep low.
Still in the European Union ECB President Mario Draghi is going to hold a speech later in the trading day about the Money Supply, on top of this investors are still waiting for the release of the Private Sector Loans figures.
Why I think EUR/USD exchange rate is one of the best currencies to trade right now
At the same time across the ocean in the United States the US and China trade deal is becoming a weak data provider as everyone at this point is virtually tired of these never ending negotiations. I have noticed that a lot more influence is coming in from the slowdown of the US economy.
One thing is clear the EUR/USD exchange rate is going to react promptly to the European Union parliamentary elections in the month of May and there are some economic problems in both France and Italy both with political involvement.
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 = 1.1410
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 exchange rate is going upwards by a positive value of + 0.07% and it is trading in the close vicinity of the 1.1414 level and it is going to rely heavily on the 1.1425 level followed close up by 1.1442 and lastly ending with 1.1449.
On the other side of the coin by jumping over the 1.1289 level this will definitely clear the trading path towards the 1.1269 level followed close up by 1.1215.
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