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.
- The currency pair is searching for a solid spot to rest close to 1.1630.
- The US DXY index is trying to overtake the 94.80 value.
- The US is releasing the GDP figures for the second quarter which is a huge event for investors.
According to FxEmpire.com the European Central Bank is going to spark a huge sell action for EUR USD shared currency pair which is now in the lowest points of the trading week close to the 1.1635 trading area.
EUR/USD will be heavily influenced by the United States GDP data release
Today the EUR/USD shared currency pair is reacting to yesterday’s dovish tone from the ECB President Mario Draghi who has announced that all values will remain unchanged, furthermore the European Central Bank has also released some predictions which clearly indicate that the inflation figures will continue to stay the same for the European Union.
EUR USD analysts and traders believe that the biggest event for today will be the releases of the United States GDP data for the previous month of April, May and June, also known as the second quarter. More important the release of the US Consumer Sentiment will hold an important position of influence today on the trading market, not to mention later in the Ney York trading session U-Mich index will come out into the blue and according to most predictions it will bring a positive tone to the overall trading process.
Let us know how you feel about the EU and US trade war? When will it end? Do you think that the release of the US GDP data will help ease the trading tone a little? Even if you are a novice trader we would still like to know your opinion!
Highest level = 1.1670
Lowest level = 1.1616
Volatility level = High
Our Trading Predictions
We advise you to:
- Sell 31%
- Buy 69%
S3 = 1.1524 S2= 1.1524 S1 = 1.1618
R1 = 1.1710 R2 = 1.1722 R3 = 1.1750
Are you in need of a good Forex broker? Do you need investment advice? We have all the solutions to all your problems! Our professionals recommend you open an account with these brokers: AAAfx or Zulutrade. Both are amazing in customer care service and offer a robust and productive trading experience. Increase your capital today!
EUR/USD significant trading levels
For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.3% and it is trading in the close vicinity of the 1.1638 level and it is relying heavily on the 1.1575 level followed close up by the 1.1527 point and continuing with the 1.1508 level.
On the other side of the table by jumping past the 1.1749 level this will clear the trading path towards the 1.1792 followed close up by the 1.1854 value.
We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!