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!
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According to Fxempire.com today the EUR/USD currency pair is trading in the close vicinity of the 1.1390 level and it is showing strong signs of moving upwards towards the 1.1410 level and at the bottom of this stands the release of the CPI data in Germany.
EUR USD exchange rate is keeping a close eye on EU data
I have recently noticed that the EUR/USD currency pair has received a big amount of negative influence from the release of the PMI prints in China for the month of February and has managed to grow all risk levels at an alarming rate because it is also triggering some thoughts about the possibility of a big slowdown in the economy in the near future.
This in turn will have a direct effect on most investors as there are still some second thoughts on the US and China trade discussions.
The main tension on the trading chart will be around the 1.1400 trading zone and the USD dynamic is going to have a word in this as the risk sentiment is already higher than yesterday.
The early release of the German inflation data for the current month in the European Union is one of the most important economic events and it is going to be strongly linked with the upcoming release of the PMI prints as well as the CPI data.
Why I think EUR/USD exchange rate is one of the best currencies to trade right now
Investors have also announced that the Q4 GDP is yet another significant economic event which will have great influence on the EUR USD exchange rate.
Still on the old continent the release of the European Central Bank minutes have proven out to be small shards compared to the predicted tidal wave that was supposed to be.
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 = 1.1410
Lowest level = 1.1345
Volatility level = Very High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 15%
Sell – 85%
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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 positive value of +0.12% and it is trading in the close vicinity of the 1.1382 level therefore by breaching the 1.1402 level this will definitely clear the trading path towards the 1.1442 point at first followed close after by the 1.1510 level.
On the other side of the trading coin there are several solid levels starting with 1.1350 followed close up by 1.1343 and lastly ending with 1.1275.
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