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exchange rate

EUR/USD exchange rate jumped over 1.1470 at the beginning of the week

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.

Factors that might affect this pair today

  • The EUR/USD exchange rate has managed to pick up the trading pace and has already raced past the 1.1450 level.
  • The US DXY index has lost some speed and the value is now close to 95.70.
  • The release of the EMU Retail Sales figures have climbed upwards by a value of +0.6% on a monthly basis.

According to FxEmpire.com today the EUR/USD shared currency pair is trading upwards by almost 100 pips and as the trading week begins the trading cross is already flirting with new daily high levels 1.1480 levels.

EUR/USD exchange rate is receiving strong influence from the economic sentiment

I have noticed that at the beginning of the trading week the EUR/USD shared currency pair is trading high well above the 1.1460 level and it is showing solid signs of moving upwards. I also believe that with this movement the selling bias will rely heavily on the US DXY index which has posted a value of 95.70.

On top of this I feel confident that the EUR/USD exchange rate is going to receive plenty of positive data from the great data releases in the European Union and this will continue lift the sentiment even higher. The release of the Retail Sales data in the European Union have shown an increase of +0.7% on a monthly basis and the Sentix index has lost a value of -1.5 falling under most predictions.

 

Why I think EUR/USD is one of the best currencies to trade right now

I believe that the most trading influence for the exchange rate is going to come from the United States ISM Factory data.

I have noticed that the US-China ongoing trade dispute will continue to be a major hot button in 2019 because it is giving poor results and Beijing is not bending. Investors will start to rule out the possibility of having a solid trading process with these problems hovering over the United States economy.

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 = 1.1480

Lowest level = 1.1394

Volatility level = Extremely High

Sell is the main action for EUR/USD exchange rate

Today’s Forex predictions

Here is my EUR/USD forecast for tomorrow

Buy – 30%

Sell – 70%

S3 = 1.1295 S2= 1.1361 S1 = 1.1393

R1 = 1.1330 R2 = 1.1395 R3 = 1.1422

EUR/USD significant trading levels

For the time being the EUR/USD exchange rate is going upwards by a positive value of +0.60% and it is trading in the close vicinity of the 1.1439 level and it is relying on the 1.1478 level continuing with 1.1497 and lastly ending with 1.1502.

On the other side of the medal I feel confident that by jumping over the 1.1309 point this will clear the trading path towards the 1.1268 level at first followed close up by 1.1214.

We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!

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