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 is trading in the close vicinity of the 1.1400 level and so far it has shown nothing but positive actions across the chart.
EUR/USD exchange rate is reacting to the USD dynamics
I have noticed that at the beginning of the trading week the EUR/USD currency pair is slowly but firmly climbing and there is a lot of positive momentum waiting in the proximity of the 1.1400 level.
Since the debut of the weekly session the currency pair has managed to gather a lot of positive traction on trading chart and this period will be marked by a holiday-shortened trading week and so far the trading cross has managed to recover more than 120 previously lost pips.
Around the holidays the United States government is slowing down its activity until January the 3rd and will ultimately add up to the US economic evolution across the chart. Weak data will continue to come in from the United States data releases and the US DXY index has posted a low value.
Why I think EUR/USD is one of the best currencies to trade right now
All trading eyes are going to keep a close eye on the trading bull and if whether or not will manage to hold off a dominant position.
Volatile levels are in accordance with the Christmas Holiday and the New-year holiday and the European Union has not released any significant data.
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 = 1.1410
Lowest level = 1.1386
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 -0.02% and it is currently trading in the close vicinity of 1.1400 level and it is relying heavily on the 1.1280 point followed close up by the 1.1275 point and ultimately landing next to 1.1160.
On the other side of the coin there are several resistant levels starting with 1.1410 and ending with the 1.1460 level.
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