eur usd, eur usd exchange rate

EUR/USD continues low next to 1.1200, CPI data on tap

  • EUR/USD continues to stay low in the proximity of the 1.1170 level.
  • All eyes are now fixed on the Italian politics.
  • The releases of the EMU CPI data will be the most important data release in the EU.
  • There is a lot influence coming in from the US and China trade dispute.

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According to today the EUR USD shared currency pair is trading low in the vicinity of the 1.1170 level and as the trading week comes to an end there are very few possibilities of showing higher levels.

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EUR/USD keeps a close eye on Italy data

I have noticed that as the trading week comes to an end the currency pair is not showing any signs of recovery and moreover it is going to trade lower than 1.1170 in the close vicinity of the 1.1160, there are however many positive signs that it is going to trading in the close vicinity of the 1.1200 level.

All eyes will continue stay fixed on the Italian political scenario where due to new updates the selling pressure began catching territory and the Italian Prime Minister M.Salvini stated that his party will continue to keep on fighting the European Union rules which are have a negative influence on Italy.

I have noticed that there are several auspicious results from the United States data releases from across the ocean.

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Back in the European Union the release of the inflation figures for the previous month of April will definitely be a market mover and provide a serious amount of influence.

Why I think EUR/USD exchange rate is one of the best currencies to trade right now

On the other side of the table the release of the advanced U-Mich index in the United States will also provide a solid amount of influence.

At the end of the trading week investors will continue to wait for the US-China trade dispute to end

As for political influences the upcoming parliamentary elections in the European Union are offering a lot of influence and all investors will keep a close eye on the populist option among voters.

Today I advise you to use the SELL action as much as possible!

Let us know how you feel about this analysis? Even if you are a novice trader we would still like to know your opinion!

Forex and Profits presents Today’s Free Forex Signal

A summary of Highs and Lows for the EUR USD

Sell is the main action for EUR/USD exchange rate

Highest level = 1.1210

Lowest level = 1.1160

Volatility level = Extremely High

Today’s Forex predictions

Here is my EUR USD forecast for tomorrow

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Buy – 25%

Sell – 75%

S3 = 1.1255 S2= 1.1231 S1 = 1.1143

R1 = 1.1120 R2 = 1.1185 R3 = 1.1112

EUR/USD significant trading levels

For the time being the EUR USD shared currency pair is trading downwards by a negative value of -0.02% and it is trading in the close vicinity of the 1.1173 level and it is relying heavily on the 1.1135 point followed close up by 1.1109 and lastly ending with 1.0839.

On the other side of the coin I believe that by jumping over the 1.1246 level this will definitely clear the trading path towards the 1.1264 level at first followed close up by 1.1308.

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