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eur usd, ecur usd exchange rate

EUR USD exchange rate next to 1.1280, YTD data eyed

  • EUR USD exchange rate has managed to jump past 1.1230.
  • The US DXY index has reacted to the YTD data.
  • Weak influence has arrived from the Industrial Production in the United States.
  • The currency pair is closing the trading week with very high volatility levels.

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According to Fxempire.com today the EUR USD currency pair has manage to shake off the 1.1230 level and it has already camped close to the 1.1280 point and it is showing strong signs of moving towards the 1.1290 level.

EUR USD exchange rate reacts promptly to US figures

I believe that at the end of the trading week the risk sentiment is very high and it will continue to stay solid up until next week’s trading session. I have also noticed that the trading sentiment will continue to stay depressed in the wake of the USD and it is also going to receive plenty of influence from the US and China trade negotiations.

At the beginning of the trading session the trading cross has barely managed to shake off the 1.1230 level and with this a huge buying  tidal wave followed after the poor US Industrial Production data release, which landed close to 0.6% for the previous month way under most predictions.

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

In other news the release of the Capacity Utilization went downwards close to 78.2% and the Manufacturing Production also fell downwards by -0.9%.

I have noticed that the EUR USD exchange rate has received positive vibes from the ES index which measured an increase of +8.80 for the current month.

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 = 1.1311

Lowest level = 1.1236

Volatility level = Very High

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Today’s Forex predictions

Here is my EUR/USD forecast for tomorrow

Sell is the main action for EUR USD exchange rate

Buy – 0%

Sell – 100%

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 -0.18% and it is trading in the close vicinity of the 1.1273 level and I believe that by jumping over the 1.1234 level this will clear the path towards the 1.1215 point followed close up by 1.1118.

On the other side of the medal I have noticed that there are several solid levels starting with 1.1294 continuing with 1.1332 and lastly ending with 1.1341.

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