eur usd, eur usd exchange rate

EUR USD exchange rate stays under 1.1300, US inflation data eyed

  • EUR USD exchange rate is gathering a lot of steam in the vicinity of 1.1300.
  • The US DXY index has reached the 96.80 value on CPI data.
  • US Core CPI data went upwards by a positive value of +2.1% in January.
  • Pressure continues to build up around the EUR single currency.

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According to Fxempire.com today the EUR USD currency pair is trading in the close vicinity of the 1.1300 level and it is highly possible that the currency pair is going to jump towards fresh new low levels.

EUR USD exchange rate is reacting to the CPI data

I have recently noticed that the EUR/USD shared currency pair is reacting promptly to the United States inflation data which to a certain extent did came in above most predictions for the previous month. This release of the CPI data went upwards by a positive value of +1.7% compared to last year’s measurement.

On top of this the release of the consumer data went upwards by +0.2% on a monthly basis and by +2.1% on a yearly basis.

In the meantime in the European Union there is no significant trading data coming in from the continent except for the Brexit news.

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

In European trading session the EUR USD exchange rate has managed to go as high as 1.1330 but it quickly lost the grip and once again fell downwards next to 1.1300.

I have also noticed that there is a lot of influence coming in from the across the ocean where the United States and China have finally resumed their long discussions about the trade negotiations.

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 = 1.1310

Lowest level = 1.1280

Volatility level = Very High

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Today’s Forex predictions

Here is my EUR/USD forecast for tomorrow

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 -0.21% and it is trading in the close vicinity of the 1.1298 level and I believe that by jumping over the 1.1257 level this will clear the path towards 1.1215 level at first followed close up by 1.1118.

On the other side of the coin there are several solid levels beginning with 1.1356 continuing with 1.1386 and lastly ending with 1.1416.

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