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 shared currency pair is trading in the close vicinity of the 1.1400 level and it is already showing significant signs of moving upwards above this level until the end of the week.
EUR/USD exchange rate is reacting to the upcoming Italian budged vote
Today I have noticed that the EUR/USD currency pair is reacting promptly to bullish movement on the trading chart and because of the Holidays the trading cross has been moving a bit slower than its usual pace. More important the European Union trading session has managed to move the EUR/USD exchange rate above the 1.1400 level and it is receiving a lot of positive influence from the announcement that Italian budget will be voted at the end of the trading year. At the same time the US Dollar selling action is offering a lot of support for the overall trading process.
Back in the European Union the Italian press has recently stated that the Italian Parliament is true on its word about voting the budget before the year ends.
Why I think EUR/USD is one of the best currencies to trade right now
Across the ocean in the United States the US DXY index has posted a positive value and it seems that it is right on track and I feel very confident that until de trading week finishes we will not see the low level of 1.1370 again.
I have recently noticed a significant amount of selling pressure within the United States equity markets and with this risk sentiment is beginning to grow and the temporary Holiday US government shutdown is not doing any better.
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 1.1380 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 = 1.1415
Lowest level = 1.1396
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 0%
Sell – 100%
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 -0.01% and it is currently trading in the close vicinity of 1.1415 level and it is relying heavily on the 1.1290 point followed close up by the 1.1285 point and ultimately landing next to 1.1170.
On the other side of the coin there are several resistant levels starting with 1.1420 and ending with the 1.1480 level.
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