eur usd, ecur usd exchange rate

EUR/USD exchange rate camps close to 1.1200, German data eyed

  • EUR/USD rate is building steam close to 1.1200.
  • The release of the Retail Sales data in Germany has surprised most of the investors.
  • The US PCE data is just around the corner.
  • The cross has established the 1.1200 level as a critical support.

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According to Fxempire.com today the EUR/USD shared currency pair is trading in the close vicinity of the low level of 1.1200 where the risk levels are getting higher and higher.

EUR/USD reacts promptly to US figures

I have noticed that at the end of the trading week the trading cross is going lower and lower and it has recently posted another low value in the close vicinity of the 1.1200 point and this is actually the fifth consecutive low point however I’ve seen plenty of optimism shadowing the Asian trading session.

Investors are positive that the EUR single currency will continue to suffer the effects of a huge risk sentiment along with a consistent batch of weak EU data.

As for positive data the advanced inflation figures published yesterday in Germany has managed to highlight a huge amount of distrust in the upcoming consumer prices, which, to a certain extent, will definitely have a lot of influence in the future inflation data.

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

Still in Germany the release of the Retail Sales figures have managed to go higher for the previous month and the Unemployment Change did not do so well and the unemployment figures  went downwards close to -4.3%.

Across the ocean in the United States the inflation figures tracked by the PCE and the U-Mich prints are the most important data releases of the trading session and it will definitely have a significant influence on the EUR/USD currency pair.

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 = 1.1240

Lowest level = 1.1190

Volatility level = High

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Today’s Forex predictions

Here is my EUR/USD forecast for tomorrow

Buy – 0%

Sell – 100%

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 trading cross is going downwards by a negative value of -0.3% and it is trading in the close vicinity of the 1.1216 level and it is relying heavily on the 1.1209 level at first continuing with 1.1176 and lastly ending with 1.1118.

On the other side of the medal by jumping over the 1.1298 level this will definitely clear the trading path towards 1.1357 at first followed close up by 1.1448.

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