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 detail why this is going to happen and how can it be in your advantage.
- August session has started with a huge vulnerability for 1.1600.
- The US DXY index is building solid ground above the 95.00 value.
- The EU is going to release the PMI prints and the US the payrolls figures.
According to FxEmpire.com today the EUR USD shared currency pair is under a lot of pressure due to weak data releases from both the EU and from the US and it is more than clear that the shared currency pair is undergoing a lot of effort in reaching the 1.1600 point.
EUR USD analysts have managed to identify a lot of selling steam building up around the European Union single currency and at the end of the trading week the cross is deploying some serious effort in reaching the 1.1600 level.
EUR/USD influenced by the EU PMI and the US payrolls
EUR USD traders have recently declared that there is a lot of support building from the US-China trade dispute and so far the Chinese Yuan is losing speed posting close to a record low level of 6.8755.
As for data release in the European Union everyone is waiting for the release of the PMI prints as well as for the Retail Sales and after these releases everyone will move their attention across the ocean where in the United States the releases of ISM Non-manufacturing data and the non-farm figures are the hottest events.
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 = 1.1612
Lowest level = 1.1562
Volatility level = Very high
Our Trading Predictions – Forex Forecast
We advise you to:
- Sell 18%
- Buy 82%
S3 = 1.1501 S2= 1.1532 S1 = 1.1544
R1 = 1.1588 R2 = 1.1614 R3 = 1.1620
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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 -0.33% and it is currently trading in the close vicinity of the 1.1581 level and it is looking for support in the vicinity of the 1.1580 level continuing with the 1.1575 point and lastly ending with the 1.1527 point.
On the other side of the table by jumping over the 1.1680 level this will clear the path towards the 1.1749 point and shortly after it is going to continue towards the 1.1792 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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