Are you searching for a strong currency which is racing upwards on the trading chart? Guess what? Now you can make some great Pips with the EUR USD forex trading 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 currency pair is trading in the proximity of the 1.1500 level and it has met a new set of selling orders and the US DXY index is taking negative influence from this.
EUR/USD forex trading is reacting promptly to the USD weakness
I have recently noticed that the EUR/USD shared currency pair has just managed to reach the 1.1500 level and it is already showing serious signs of moving upwards above this level. I believe that this high level will definitely ignite a global sell off of the USD and as a consequence the US DXY Index has already published a low value close to the 95.30 level.
At the middle of the trading week a lot of influence is coming in from the Fed conference especially from C.Evans who has already declared that the economic rates are likely to expand by a value of +2%.
At the same time across the ocean in the United States data calendar the releases of FOMC minutes is one of the most important economic event for today.
Why I think EUR/USD is one of the best currencies to trade right now
I have noticed that the negotiations between the US and China will continue to be the main price influence. On top of this the release of FOMC minutes is more than able to offer more details as to how the Economic Committee is behaving on the trading path. As a consequence the USD-dynamics are reacting directly with the EU jitters in Italy. There are also many news headlines indicating that the German economy is bound to enter a small technical recession the 4th quarter and poor data releases are going to come into the trading process.
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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 = 1.1510
Lowest level = 1.1450
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 0%
Sell – 100%
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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 forex trading process is going upwards by a positive value of +0.71% and it is trading in the close vicinity of the 1.1510 level and it is relying on the 1.1549 point followed close up by the 1.1550 level and the 1.1621 level.
On the other side of the coin by jumping over the 1.1309 level this will definitely clear the trading path towards the 1.1268 level at first followed close up by the 1.1214 point.
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