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 proximity of the 1.1290 level and it seems that it is losing a lot of steam and it might fall towards the 1.1260 point towards the end of the trading session.LEARN TO TRADE AS A PRO
EUR/USD reached its maximum level next to 1.1290
I have noticed today that the trading bulls did not manage to jump past the 1.1285 level therefore a correction towards lower points was soon sparked.
On top of this the EUR single currency became very weak right after the European Central Bank minutes highlighted the fact that the Council is only a step away from a cut, however all interest will be around the of lowering the inflation level in the European region.
Across the ocean the USD dynamics is also having a hard time advancing due to the release of the United States inflation data which has been measure by the Core CPI and it has managed to go above most expectations for the previous month of June respectively by +0.3% on a monthly basis and by +2.1% on a yearly pace.
The release of the positive CPI prints has also managed to offer some fresh air for the United States yields which has sparked a small rebound.
Why I think EUR/USD exchange rate is one of the best currencies to trade right now
As for data releases the Services PMIs in the European Union and Germany has managed to bring softer trading tone for the EUR single currency.
At the same time across the ocean the release of the Initial Claims data went upwards more than everyone had previously predicted and the US private sector added fewer jobs than recently predicted.
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!
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A summary of Highs and Lows for the EUR USD
Highest level = 1.1290
Lowest level = 1.1240
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR USD forecast for tomorrowFollow this trader now
Buy – 10%
Sell – 90%
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 the EUR USD shared currency pair is going downwards by negative value of -0.3% and it is trading in the vicinity of the 1.1257 level and I believe that by jumping over the 1.1286 level this will definitely clear the trading path towards the 1.1325 point followed close up by the 1.1412 point.
On the other side of the coin there are several solid points starting with 1.1193 continuing with 1.1181 and lastly ending with the 1.1106 point.Join Zulutrade now
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