EUR USD is keeping the trading range close to 1.1700

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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 currency pair!

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.

  • At the beginning of the trading week the trading cross is camping close to the 1.1710 level.
  • The US DXY index has posted a value close to the 94.30 zone.
  • Major influence is coming in from the US President Trump and his own trade disputes.

According to FxEmpire.com today the EUR USD shared currency pair is trading in the close vicinity of the 1.1700 level and the USD is yet again receiving a lot of negative influence from its own President who is keeping the trade disputes without any reason and without any positive effect.

eur usd, forex forecast

EUR/USD influenced by the USD movement

EUR/USD analysts now believe that the currency pair is not performing so well due to slow movement of the USD single currency which has once again been influenced negative by the bad comments issued by President Trump, furthermore the US DXY index is losing the YTD top levels.

On top of this the EUR/USD currency pair has formed a solid base close to the 1.1500 level and has transformed the 1.1600 and 1.1700 levels into key barrier points.

In the meantime in the European Union the EUR single currency is receiving a lot of influence from the release of the CFTC report which has managed to land according to most expectations.

Later in the US trading session traders will be waiting for the release of the Home Sales figures and trade deals between US and China where President Trump is leading the charge.

Let us know how do you feel about Trump’s interventions? What is the reason to give bad commentary to your national currency? Why is Trump doing this? How do you feel about the lack of data releases in the European Union? Will the EUR/USD lose the 1.1710 level?

Highest level = 1.1735

Lowest level = 1.1671

Volatility level =  High

Our Trading Predictions

We advise you to:

  • Sell 15%
  • Buy 85%

 

S3 = 1.1531 S2= 1.1542 S1 = 1.1623

R1 = 1.1730 R2 = 1.1712 R3 = 1.1770

 

 

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EUR/USD significant trading levels

For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.9% and it is trading in the close vicinity of the 1.1728 level and it is relying heavily on the 1.1748 point continuing with the 1.1792 point and lastly ending with the 1.1853 level.

On the other side of the table by jumping past the 1.1690 level this will clear the trading path towards the 1.1676 level at first followed close up by the 1.1575 level.

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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