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 the EUR/USD exchange rate has managed to begin the week on a high tone and hopefully the releases of the CPI data will help the growing momentum of the cross for the entire trading week.
EUR/USD exchange rate is receiving positive vibes from the Italian budget
I believe that the entire trading week is going to be very soft on the EUR/USD and it is more than obvious that the trading cross will slowly rise above the 1.1360 level. On top of this I have noticed that the bulls are very strong in the European Union while across the ocean the USD will also recover some of its momentum.
I have also noticed that the US DXY index has recently posted value close to the 97.70 and it is not showing any signs of slowing down, this is why it is in my belief that until this trading week ends we will definitely see better values for the greenback.
Why I think EUR/USD is one of the best currencies to trade right now
Major influence is also coming in from the US and China negotiations based on a now weaker Chinese macro data and safer trading spots for the USD. There is also a possibility that the greenback will fall low 97.30.
I feel confident that the Italian budget negotiations are right on track mostly because of the ANSA reports which has shown that Italian coalition leaders are coming on the same page on the budget data discussions.
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 = 1.1362
Lowest level = 1.1326
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 0%
Sell – 100%
S3 = 1.1295 S2= 1.1341 S1 = 1.1393
R1 = 1.1340 R2 = 1.1385 R3 = 1.1412
EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.1% and it is currently trading in the close vicinity of 1.1340 level and it is relying heavily on the 1.1280 point followed close up by the 1.1225 point and ultimately landing next to 1.1170.
On the other side of the coin there are several resistant levels starting with 1.1300 and ending with the 1.1370 level.
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