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 currency pair has stopped trading close to the 1.1340 level where it has met a lot of resistance and at the bottom of this stands the release of the FOMC data.
EUR USD exchange rate reacts promptly to FOMC
I have noticed that in today’s trading session the EUR USD exchange rate has stopped its advance around the 1.1350 level where it has met a great deal of resistance.
Important influence has been coming in from the trade deal between the US and China which so far it has managed to lower the risk levels but the US DXY index has posted a low value that once again places significant pressure on the risk figures.
I think that the release of the German Producer Prices in the European Union is an amazing source of positive influence because it went upwards by a positive value of +0.4% on a monthly basis and by +2.6% on a yearly basis.
Why I think EUR/USD exchange rate is one of the best currencies to trade right now
One of the most important economic events of the day is the release of the FOMC figures in the US NA trading session which is going to show how the Fed will behave in the near future.
I feel confident that the EUR USD exchange rate is going to receiving strong influence from the modification of taxes on US imports of EU automobiles.
The European Central Bank has addressed the slowdown in the euro zone earlier today and there are several speculations that it is going to halt some efforts in policy modifications.
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!
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A summary of Highs and Lows for the EUR/USD
Highest level = 1.1372
Lowest level = 1.1315
Volatility level = High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 20%
Sell – 80%
S3 = 1.1255 S2= 1.1331 S1 = 1.1343
R1 = 1.1320 R2 = 1.1385 R3 = 1.1412
EUR/USD significant trading levels
For the time being the EUR USD exchange rate is going upwards by a small yet positive value of +0.2% and it is trading in the close vicinity of 1.1343 and it is going to rely heavily on the 1.1355 level followed close up by 1.1382 and ending with 1.1398.
On the other side of the medal it is in my belief that by jumping over the 1.1309 point this will definitely clear the trading path towards the 1.1234 level followed close up by the 1.1215 level.
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