eur usd, ecur usd exchange rate

EUR/USD going down next to 1.1180, EMU data eyed

  • EUR/USD went downwards today in the proximity of the 1.1180 level.
  • All eyes are now fixed on the releases of the advanced EMU Q1 GDP.
  • The release of the Retail Sales in the United States went upwards by +0.2% on a monthly basis.
  • There is a strong pessimism surrounding the currency pair which is now going close to 1.1170.

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According to today the EUR USD shared currency pair has lost a few pips even from the opening bell and it is now trading in the proximity of the 1.1160 level and it will deploy a lot of effort in jumping towards the 1.1190 point

EUR/USD trading rather low

I have noticed that today the main subject for discussion is still the unending trade negotiations between the United States and China and so far it has only managed to keep the risk trends rather high and with this came along a lot more downside pressure.

On top of this I have also noticed that the release of the Q1 German GDP data did not manage to meet predictions and these numbers combined with the weak data from the ZEW survey and you get an intense selling process surrounding the EUR single currency.

At the same time across the ocean in the United States the release of the Retail Sales has landed according to most predictions and it has increased in value by +0.2% for the previous month while the Core sales increased only by +0.1% on a month to month basis.

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

Some other important data release is coming in from the regional manufacturing data measured by the Empire State index which improved the trading sentiment landing close to 17.80 for this current month.

Still in the European Union the European Central Bank official Mr. B.Coeure is going to hold a speech tomorrow and while that unveils all eyes will be fixed on the release of the NAHB index data as well as the TIC in the US calendar. As for political influences the upcoming parliamentary elections in the European Union are offering a lot of influence and all investors will keep a close eye on 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

Sell is the main action for EUR/USD exchange rate

Highest level = 1.1210

Lowest level = 1.1160

Volatility level = Extremely High

Today’s Forex predictions

Here is my EUR USD forecast for tomorrow

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Buy – 45%

Sell – 55%

S3 = 1.1255 S2= 1.1231 S1 = 1.1143

R1 = 1.1120 R2 = 1.1185 R3 = 1.1112

EUR/USD significant trading levels

For the time being I have noticed that the EUR USD shared currency pair is going downwards by a negative value of -0.16% and it is trading in the proximity of the 1.1180 level and it will be relying heavily on the 1.1176 level followed close up by 1.1135 and lastly ending with 1.1109.

On the other side of the coin I believe that by jumping over the 1.1264 level this will definitely clear the trading path towards the 1.1313 level at first followed close up by 1.1323.

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