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EUR USD started the week at 1.1520 – weak EU data

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.

  • EUR USD has lost a lot of trading speed and it is trading around 1.1520.
  • The US DXY index has posted a value close to 95.40.
  • The release of the Sentix index will have a lot of influence in the European Union.

According to FxEmpire.com today the EUR USD shared currency pair is under a lot of pressure due to the release of the Factory Orders which so far has managed to keep the trading cross in place and around the 1.1500 value.eur usd, forex forecast

EUR/USD influenced by poor data releases

EUR USD analysts have noticed that at the beginning of the trading week investors and traders have mixed feelings about the movement of the trading cross which is now slowly losing the 1.1530 level and it is slowly returning to the same trading manner as it did in May.

At the same time across the ocean in the United States the US DXY index has posted a value close to 95.00 and at the bottom of this stands the never ending trade dispute and verbal actions of the US and China trade dispute.

EUR USD analysts have noticed that the release of the non-farm data last week has managed to create a lot of movement also the Sentix Index is a significant data release in the European Union, also in the EU the releases of the Factory Orders has managed to jump over most predictions thus increasing in value by a +4.0% on a monthly basis.

According to the recent CFTC report the Eur values have dropped and are hoping to make a recovery.

Let us know how you feel about the fact that the US and China trade deal has transformed into a trade dispute? When will it end? Do you think that record low level of the Chinese Yuan will last for long? Even if you are a novice trader we would still like to know your opinion!

Highest level = 1.1573

Lowest level = 1.1519

Volatility level = Expanding

Our Trading Predictions

We advise you to:

  • Sell 56%
  • Buy 44%

S3 = 1.1549 S2= 1.1528 S1 = 1.1497

R1 = 1.1598 R2 = 1.1632 R3 = 1.1655

 

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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 -0.15% and it is trading in the close vicinity of the 1.1541 level and it is relying for support at first on the 1.1527 level followed close up by the 1.1508 point and lastly on the 1.1479 level.

On the other side of the table by jumping past the 1.1648 level this will definitely clear the path towards the 1.1670 point continuing with the 1.1745 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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