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 trading extremely low in the close vicinity of the 1.1180 level and it is showing small signs of recovery onto the 1.1200 level, this is considered to be the lowest level since the trading year began.
EUR/USD exchange rate reacts to United States data releases
I have noticed that the EUR USD currency pair is now trading in the close vicinity of the 1.1180 level and this is the lowest trading level since the trading year began and it is currently deploying significant efforts in reaching the 1.1200 level and at the bottom of this the overwhelming weakness of the USD.
At the same time I have seen that the EUR single currency is now very volatile and extremely fragile to any kind of sharp retracements.
I believe that the EUR USD exchange rate is going to surprise the global trading markets with an outstanding recovery process.
Why I think EUR/USD exchange rate is one of the best currencies to trade right now
I also feel confident that in the near future, especially at the debut of the next trading week the EUR USD currency pair will have to face a lot of pressure and this will definitely weigh heavily on both traders and investors.
The European Central Bank has ruled out all kinds of prospects between the third and the fourth quarter of 2020. As for economic politics all eyes will be fixed on the upcoming parliamentary elections in the European Union.
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
Highest level = 1.1246
Lowest level = 1.1180
Volatility level = Low
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 40%
Sell – 60%
S3 = 1.1455 S2= 1.1331 S1 = 1.1243
R1 = 1.1120 R2 = 1.1085 R3 = 0.9412
EUR/USD significant trading levels
For the time being the EUR USD exchange rate is going downwards by a negative value of -0.28% and it is currently trading in the proximity of the 1.1215 level therefore by breaching the 1.1314 level this will definitely clear the trading path towards the 1.1375 level at first followed close up by 1.1419.
On the other side of the trading table there are several solid levels beginning with 1.1176 continuing with 1.1118 and lastly ending with 1.1021.
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