Are you searching for a strong currency which is racing upwards 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!
Here I will share what I believe about the EUR/USD movement on the trading chart today. I will explain in details why this is going to happen and how can it be in your advantage.
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|Factors that might affect this pair today
According to Fxempire.com today the EUR/USD exchange rate is trading in the close vicinity of the 1.1360 level and there is a high possibility that until the trading session ends the cross is going to set camp close to 1.1410.
EUR/USD exchange rate is reacting promptly to recent United States data
I believe that the EUR/USD currency pair will be trading for a while in the proximity of the 1.1380 level and there are some variations towards the 1.1410 point.
The US DXY index is offering plenty of positive influence for the overall trading process also it is worth mentioning that the main fuel for this ignition was the release of the Industrial Production figures. In other words the figures went upwards by a positive value of +0.3% thus jumping past most expectations.
At the same time I have also noticed that positive feedback is also coming in from the releases of the Manufacturing Production figures which have increased by a value of +1.2% on a monthly basis.
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Why I think EUR/USD exchange rate is one of the best currencies to trade right now
All trading eyes are now fixed on the upcoming release of the United States Consumer data for the current month.
In the meantime in the European Union the European Central Bank President Mr. Mario Draghi has stated that there will be a high focus on the United States economic shutdown. Major interest will be on the EU upcoming elections in May.
Today I advise you to use the SELL action as much as possible!
Let us know how you feel about the fact that the Brexit negotiations have managed to influence the whole trading process in the European Union? Will the currency pair jump over the 1.1480 level? Let us know how you feel about this? 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 = 1.1419
Lowest level = 1.1353
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 5%
Sell – 95%
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 downwards by a negative value of -0.21% and it is trading in the close vicinity of the 1.1387 level and it is relying heavily on the 1.1370 point followed close up by the 1.1356 level and ending with the 1.1306 point.
On the other side of the coin by jumping over the 1.1422 level this will clear the trading path towards the 1.1442 point at first followed close up by the 1.1465 level.
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