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 shared currency pair is trading in the low side of the chart in the proximity of the 1.1270 and so far it seems that the 1.1300 level is rather far away mostly because of the US data release.
EUR/USD trading low close 1.1270
Today I have noticed that the EUR/USD shared currency pair is trading in the close vicinity of the 1.1270 level and so far it has shown some signs of moving upwards close to 1.1280 still far away from the 1.1300 level.
I believe that there is a huge demand for the USD and this type of action will continue to accentuate the upside momentum.
As for data releases I have noticed that the housing sector in the United States has lost some steam and the Consumer Confidence measured by the Conference Board came in very disappointing at a value close to 124.1.
Why I think EUR USD exchange rate is one of the best currencies to trade right now
Investors are now keeping a close eye on the growing risk appetite trends surrounding the USD dynamics. A lot of negative influence is still coming in from the release of the advanced PMI prints in the European Union.
I am sure that the European Central Bank is going to have some updates regarding the influence of the political front but it will be keeping a close eye on the upcoming European Union parliamentary elections.
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 = 1.1300
Lowest level = 1.1270
Volatility level = High
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 currency pair is going downwards by a negative value of -0.18% and it is trading in the close vicinity of the 1.1289 level and it is going to rely heavily on the 1.1273 level followed close up by 1.1234 and lastly ending with 1.1215.
On the other side of the medal by jumping over the 1.1357 level this will clear the trading path towards the 1.1363 level at first followed close up by 1.1448.
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