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EUR USD exchange rate camps close to 1.1360, Fed data eyed

EUR USD exchange rate has found some solid ground around 1.1350.
The US DXY index is still in negative territory.
The trade talk between US and China are picking up pace.
The currency pair is going to camp for a while close to 1.1360.

Are you searching for a strong currency with potential on the trading chart? Guess what? Now you can make some great Pips on the EUR/USD exchange rate and begin your journey as a successful trader!

According to Fxempire.com today the EUR USD exchange rate is keeping a balanced trading tone in the close vicinity of the 1.1360 level and is will deploying a lot of effort in order to avoid losing this point for other low levels.

EUR USD exchange rate is reacting to US data

I have recently noticed that the shared currency pair is deploying a lot of effort in jumping past the 1.1360 level and there are some risk variations that could lead the cross in the vicinity of the low point of 1.1320 but optimist continues to stay high as US and China intensifies their trade talks.

I have also noticed that across the ocean in the United States the manufacturing figures came in moderate and the Fed data also launched negative data for the current trading month thus missing most predictions.

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

In the European Union the European Central Bank has released some hints regarding the future inflation expectations and those numbers seem to stretch more than it has been initially predicted.

The release of the PMI figures in Germany has shown that there is no reason for extra concerns over the deterioration of the slowdown.

I think that in the meantime all eyes will continue to stay fixed on the ongoing discussion between the US and China.

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 = 1.1375

Lowest level = 1.1325

Volatility level = High

Today’s Forex predictions

Here is my EUR/USD forecast for tomorrow

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Buy – 20%

Sell – 80%

S3 = 1.1245 S2= 1.1371 S1 = 1.1383

R1 = 1.1310 R2 = 1.1365 R3 = 1.1422

EUR/USD significant trading levels

For the time being the EUR USD exchange rate is going downwards by a negative value of -0.11% and it is trading in the close vicinity of the 1.1348 level and it is relying heavily on the 1.1371 level followed close up by 1.1382 and lastly ending with 1.1394.

On the other side of the medal I believe that by jumping over the 1.1308 level this will definitely clear the trading path towards 1.1234 and lastly ending with 1.1215.

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Tags: eur usd exchange rate

Alex Powers

I am an MBA in International Business graduate, Magna Cum Laudae, American University, so understanding macroeconomics, as well as finance, is no issue. I trade forex for a living since more than 9 years now, and in the meantime, I contributed/still contribute to various financial websites so I have plenty of knowledge related to financial markets. However, I trade on the bigger time frames, and this leaves plenty of time on my hands. For this, I have to research, and in time I became proficient in searching for the right data. I run a trading signal and a private educational program for traders too.