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 going downwards in the close vicinity of the 1.1350 and due to weak data releases the trading cross is not far away from the 1.1330 low spot.
EUR USD exchange rate is keeping a close eye on risk levels
I have noticed that at the end of the trading week the EUR USD currency pair is trading in the proximity of the 1.1350 level and the trading session is far from over and there are already several solid hints that the cross is going to camp close to the 1.1320 spot over the weekend.
At the same time I think that it is going to deploy a lot of efforts in jumping towards better levels but this is going to be fairly difficult to acquire because of the huge amount of steam that is currently putting a lot of pressure on the international trading markets.
Investors believe that the EUR single currency did not react to the data releases in Germany which came in as a big surprise for me because the trade surplus volume grew close to €19.4 billion therefore jumping over all predictions.
Why I think EUR/USD exchange rate is one of the best currencies to trade right now
The growing risk sentiment has also been influence by the European Union Commission which has recently published some forecasts.
I believe that the recent Q4 GDP release in the EU has managed to underline a negative trend on the trading chart and the EC will have a significant influence on inflation levels and on the EUR USD exchange rate overall trading process.
The EU parliamentary elections will be paying a lot of attention to populism in the Euro region.
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 = 1.1390
Lowest level = 1.1325
Volatility level = Very High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 10%
Sell – 90%
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 -0.4% and it is currently trading in the proximity of the 1.1337 level therefore by jumping over the 1.1324 level this will clear the trading path towards the 1.1289 point followed close up 1.1269.
On the other side of the medal there are several solid points beginning with 1.1389 continuing with 1.1429 and lastly ending with 1.1442.
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