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EUR/USD exchange rate went down to 1.1370 on weak ADP data

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

  • The EUR/USD exchange rate has finally managed to shake off the low level of 1.1320.
  • The US DXY index is still deploying a lot of effort in reaching the 97.00 value.
  • The release of the ADP data came in very weak under most predictions.

According to FxEmpire.com today the EUR/USD shared currency pair is trading in the close vicinity of the 1.1350 level and it is already showing strong signs of moving upwards towards the 1.1370 level and at the bottom of this stands the recent weak data releases of the ADP data.

EUR/USD exchange rate has been seriously influenced by the US ISM figures

I have noticed that the EUR/USD currency pair is slowly picking up the trading pace but the tricky part is going to have to maintain that steady positive pace and this will be made very difficult by weak data releases such as the ADP figures.

The entire exchange rate is quick to react to the US private sector figures which I have noticed that is has managed to add a total number of 179.000 jobs for the previous month therefore missing all predictions.

currency pair, exchange rate

Why I think EUR/USD is one of the best currencies to trade right now

I believe that across the ocean in the United States traders will send positive vibes on the trading chart due to the releases of the Initial Claims figures which have managed to go upwards close to the by 234.000. On top of this the United States trade deficit is now somewhere close to $55,8billion.

In the near future I think that the EUR/USD shared currency pair will continue to rest for a while under the 1.1400 value and it will definitely continue to receive solid influence from Italy and Brexit in the European Union.

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 = 1.1382

Lowest level = 1.1336

Volatility level = Extremely High

Sell is the main action for EUR/USD exchange rate

Today’s Forex predictions

Here is my EUR/USD forecast for tomorrow

Buy – 25%

Sell – 75%

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 exchange rate is going upwards by a positive value of +0.12% and it is trading in the close vicinity of the 1.1361 level and I believe that by breaching the 1.1418 level this will clear the trading path towards the 1.1434 level at first followed close up by the 1.1473 point.

On the other side of the medal there are several solid levels starting with 1.1264 continuing with 1.1214 and lastly ending with 1.1188.

We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!

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