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.
What happens with the EUR USD currency pair?
- The EUR/USD is now building up a lot of steam in the vicinity of the 1.1600 level.
- Fresh data points out that the 95.50 is close to tops.
- USA Fed data shows that the Initial Claims are now on tap.
According to FxEmpire.com today the EUR USD shared currency pair is trading in the close vicinity of the 1.1600 level and it is receiving a lot of positive influence from the United States data releases, especially the Initial Claims.
EUR/USD analysts have quickly noticed that the European single currency is building up a lot of steam in the proximity of the 1.1600 level.
EUR/USD is also influenced by the YTD data
EUR/USD traders now feel confident that there is a lot of support fortifying alongside the 1.1600 level and it is clear that by losing this spot the trading cross will be going towards the 1.1580 level soon enough. There is also a lot of influence coming in from the US Fed which will be posting a report on the labor maket.
Let us know how do you feel about the Fed statement? Will it bring a positive tone to the overall trading process? How about the lack of data from the European Union? Will the EUR/USD lose the 1.1600 level?
Highest level = 1.1658
Lowest level = 1.1579
Our Trading Predictions
We advise you to:
- Sell 20%
- Buy 80%
S3 = 1.1562 S2= 1.1583 S1 = 1.1634
R1 = 1.1711 R2 = 1.1732 R3 = 1.1781
EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going downwards by a huge negative value of -0.32% and it is trading in the close vicinity of the 1.1597 level followed close up by the 1.1586 point and lastly ending with the 1.1527 level.
On the other side of the table there are several strong points starting with the 1.1668 point followed close up by the 1.1718 and lastly ending with the 1.1746 level.
The ADX indicator may be helpful for finding some scalping opportunities for EUR USD on Friday
Have you used the ADX indicator? You find this indicator (also known as Average Directional Movement Index) in MetaTrader5 which is a free charting software available for Android, Windows, Linux, MacOS and iPhone. The ADX indicator is a very powerful indicator! Just remember to add 2 levels, 20 and 40. I have chosen Blue (for ADX), Red (for negative trend) and Green (for positive trend) as the colors on my white charting background. If the ADX gets over 20 there will probably become some action. If it is below, it is in dead trading zone. If the green crosses the red, the currency pair is going bullish. If the red crosses the green, the pair will most likely become bearish. ADX is easy to understand and more accurate than most other indicators we have tested. What do you think about ADX? Is it helpful in your trading?
Below you can have a look at the current ADX status on EUR USD 15 min chart.
We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!