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 is trading in the close vicinity of the low level of 1.1350 and at the bottom of this stands the weak data release of the EMU CPI data which has managed to disappoint many market participants.
EUR USD exchange rate is now under serious pressure
I have noticed that at the beginning of March the EUR USD exchange rate is under a big amount of pressure and it will continue to gather steam around the 1.1350 level and it is aiming to spark a correction path towards the low level of 1.1300 and at the bottom of this stands the recent change in the sentiment of the market participants.
At the same time the EUR single currency has managed to wrap up February’s trading process on a slightly negative tone, but it is still under the influence of high inflation figures measured by the CPI in the European Union which so far it has managed to show that the consumer prices have risen by +1.5% and Core prices by +1.0% therefore landing extremely close to the 1.1% predicted value.
Why I think EUR/USD exchange rate is one of the best currencies to trade right now
On top of this I have noticed that the unemployment figures in the Euro zone have retreated to 7.5% from 7.9%.
The trading momentum is now reacting to the USD weakness while the EUR single currency is still waiting for a clear resolution from US and China trade talks. The EUR USD exchange rate has reacted promptly at the releases of the preliminary inflation data 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 = 1.14109
Lowest level = 1.1354
Volatility level = Very High
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
Buy – 15%
Sell – 85%Follow this trader now
S3 = 1.1355 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 -0.2% and it is trading in the proximity of the 1.1367 level and it is going to rely heavily on the 1.1356 level at first followed close up by 1.1350 and lastly ending with 1.1275.
On the other side of the medal by jumping over the 1.1419 level this will definitely clear the trading path towards the 1.1442 level at first followed close up by 1.1508.
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