EUR/USD exchange rate jumps to 1.1370 point, UK data eyed

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  • EUR/USD exchange rate is now trading close to 1.1365.
  • The US DXY index has published a value close to 96.40.
  • Fed anticipates that the Fed Funds target will suffer no modifications.
  • The 55-day SMA is leading the cross close to 1.1375.

 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 exchange rate is trading in the close vicinity of the 1.1360 level but the cross is already showing signs of moving upwards close to the 1.1375 point.

EUR/USD keeps a close eye on the FOMC and Brexit

I have noticed that the shared currency pair is moving higher and higher at a reasonably consistent pace and this can be seen in the sudden movement from 1.1340 to 1.1370 in single jump, but it will be a facing a strong wave of selling pressure and at the base of this stands the FOMC meeting.

Another significant piece of influence is coming in from the growing weakness of the GBP and in the United Kingdom the PM Theresa May has officially requested the European Union officials for an extension of Article 50 and by all means this is becoming more dramatic than economic.

I believe that the EUR USD is going to receive a significant amount of influence from the FOMC meeting where the Fed’s balance sheet reduction will be the main topic on the table, other matters such as inflation will be also be discussed.

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

It is in my opinion that the growing risk-appetite and USD-dynamics are definitely the main market drivers of the price action for the EUR USD currency pair.

As for the political segment the upcoming EU parliamentary elections is the most important event and all attention will be placed on the populist voters.

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

Sell is the main action for EUR/USD exchange rate

Highest level = 1.1370

Lowest level = 1.1310

Volatility level = High

Today’s Forex predictions

Here is my EUR/USD forecast for tomorrow

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Buy – 15%

Sell – 85%

S3 = 1.1455 S2= 1.1331 S1 = 1.1243

R1 = 1.1120 R2 = 1.1085 R3 = 0.9412

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 1.1363 therefore by breaching the 1.1419 level this will definitely clear the trading path towards the 1.1482 level followed close up by 1.1514.

On the other side of the medal there are several solid levels starting with 1.3121 followed close up by 1.1295 and lastly ending with 1.1234.

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