eur usd exchange rate

EUR USD exchange rate jumps to 1.1420, CPI and NFP data on tap

  • The EUR USD exchange rate has managed to set camp close to 1.1440 at the end of January.
  • The US DXY index has posted a value close to 95.60.
  • The release of the EMU data is the most important event of the trading week.
  • There is a strong selling bias surrounding the shared currency pair.

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 today the EUR USD exchange rate has managed to begin the trading month of February on a solid tone and the trading cross has just landed in the proximity of the 1.1440 level. This value came in perfect in accordance with key 100-day SMA.

eur usd exchange rate

The EUR USD exchange rate is receiving strong influence from the CPI and NFP data

I have noticed that the beginning of the trading week the cross is going downwards for the second consecutive day and with these events I have also seen that a lot of steam is going to build up which will ultimately lead the EUR USD exchange rate in the proximity of the 1.1510 level at first and with some variations close to the 1.1525.

I feel confident that the risk sentiment will be growing exponentially and this will also reflect in the poor data release from the Chinese Caixin manufacturing PMI data which has managed to keep the trading process in a low position.

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On another page I believe that the negotiations between the United States and China will get the final stand in Washington D.C. where both parts have agreed to continue earlier today to continue the economic discussions.

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

As for the European Union I have noticed that at the end of January the release of the manufacturing PMI prints did not create any kind of movement within the EUR single currency.

So far I am certain that as February fires up its engines the main influence will be coming in from the release of the preliminary inflation data in the European Union.

Back in the United States investors are going to keep a close eye on the release of the non-farm trading data.

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 = 1.1489

Lowest level = 1.1335

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 – 20%

Sell – 80%

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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 downwards by a negative value of -0.5% and it is trading in the close vicinity of the 1.1439 level and I believe that by jumping over the 1.1434 level this will clear the trading path towards the 1.1422 level followed close up by the 1.1390 level.

On the other side of the coin I believe that there are several solid levels starting with the 1.1514 point continuing with 1.1515 and lastly ending with 1.1569.

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