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 exchange rate is trading in the close vicinity of the 1.1350 level and there are some possibilities that the cross is going to go as high as 1.1370 but without the proper support it will not be possible to reach any higher points.
EUR/USD exchange rate is reacting to the FOMC figures
I have noticed that the EUR USD shared currency pair has began the trading week on a steady pace and the trading sentiment surrounding the pair is becoming more and more risky and it will try to reach the 1.1400 as soon as possible.
I believe that there will be no relevant news coming in from the US and China trade deal and I am also close to being certain that however this event unfolds, because of its longevity, it will no longer have the strength required to have the appropriate influence on the overall trading process.
As for data releases one of the most important economic events will be the releases of the EMU ZEW German survey which will be issued before the FOMC meeting takes place.
Why I think EUR USD exchange rate is one of the best currencies to trade right now
Another significant event will be the EU Summit towards the end of the week.
The European Central Bank is placing a lot of emphasis on the risk trends which will set the direction of the price action in the near future.
Many EU officials have assured and reassured market participants that no changes will come to the ECB’s monetary policy.
Still in the European Union investors are hoping that parliamentary elections will shed some light on the direction of the populist option among 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
Highest level = 1.1390
Lowest level = 1.1310
Volatility level = Low
Today’s Forex predictions
Here is my EUR/USD forecast for tomorrow
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 shared currency pair is going upwards by a positive value of 0.25% and it is currently trading in the close vicinity of the 1.1352 level and it will be relying heavily on the 1.1365 point followed close up by 1.1419 and lastly ending with 1.1484.
On the other side of the coin I believe that by jumping over the 1.1286 level this will definitely clear the trading path towards the 1.1176 level at first followed close up by 1.1118.
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