Are you looking for a solid currency pair that is growing slowly across the trading chart? Guess what – now you can make some great Pips on the EUR USD currency pair now!
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.
EUR USD Trading guidelines
- The shared currency pair will continue to build steam around the 1.1600 level.
- The US greenback will continue to stay solid around the 95.00 point.
- All eyes are focused today on the USA President Donald Trump who is visiting the UK.
According to DailyFX.com today the EUR/USD shared currency pair is trading in the close vicinity of the 1.1650 and there are several reasons to believe that at the end of the trading week it will go even lower than many predicted.
EUR/USD analysts now think that there is a lot of steam building up across the trading chart because of the new low levels at the end of the trading European session and already it is showing signs of moving downwards close to the 1.1600 value.
EUR/USD needs solid data in order to recover
EUR/USD traders now feel confident that the shared currency pair will have to sail through a negative area if it truly wants to jump past the 1.1650 level, fortunately the USD economic feeling is gaining positive speed because of the USD JPY trade front.
For the time being both traders and analysts are keeping a close eye on the trade deal discussion in the European Union and because of the Donald Trump’s visit in the UK the global trading markets have slowed down in order to accommodate to this new situation and it will also wait for any relevant commentaries before picking up speed.
Expert analyzer Christopher Lewis at FxEmpire seems also to believe in a bullish trend now:
I believe that’s coming, and eventually we could turn around and break above the 1.17 level. A break above that level opens the door to the 1.1850 level, the top of the overall consolidation that we had seen over the last several weeks. A break above that level would then open the door to the 1.20 level, which obviously has a lot of psychological importance, and has shown massive structural importance in the past. I am bullish, but slightly so as there are so many concerns with trade tariffs and the like.
Right now there are now solid data releases in the European Union only in the US there is the release of the Export and Import Prices which are expected to come out into the air along with the U-Mich data index in the NY trading session.
Let us know how do you feel about the Donald Trump’s visit in the UK? How about the lack of data from the European Union? Will the EUR/USD continue to lose ground or keep still around 1.1600?
Highest level = 1.1677
Lowest level = 1.1612
Our Trading Predictions
We advise you to:
- Sell EUR USD 34%
- Buy EUR USD 66%
S3 = 1.1638 S2= 1.1601 S1 = 1.1624
R1 = 1.1647 R2 = 1.1611 R3 = 1.1682
EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.16% and it is trading in the close vicinity of the 1.1652 level therefore by breaching the 1.1650 level this will clear the trading path towards the 1.1527 level at first followed close up by the 1.1508 trading point.
On the other side of the table there are several solid points starting with 1.1686 continuing with 1.1741 and lastly ending with 1.1792.
We value your opinion very much. Let us know how you feel about our predictions? What is your opinon about the EUR USD and what is going to happen next?