eur usd, ecur usd exchange rate

 EUR/USD has managed to reach 1.1350, ECB data still on tap

  • EUR/USD currency pair has managed to jump past the 1.1320 level.
  • The US DXY index has just published a value close to 96.50.
  • The release of the Flash PMI prints came out solid in the EU.
  • There is now a strong recovery movement hovering next to the 1.1330.

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According to Fxempire.com today the EUR USD shared currency pair is trading in the close vicinity of the 1.1330 level but it is showing strong signs of moving upwards towards the 1.1350 level towards the end of the trading week and at the bottom of this stands the recent US DXY index value.

EUR/USD has the 1.1350 level in sight

I have noticed that at the end of the trading week the EUR USD shared currency pair is trading under a soft note and the US Dollar Index is completely surrounded by bullish movements and this came as a direct response from the investors who are trying to adapt to a possible rate cut by the US Fed in the near future.

Investors have now a keen eye on the EUR single currency and it is reacting positively towards the release of the advanced PMI figures in the European Union for this current month.

I have also noticed that some significant influence has also been coming from the ongoing trade negotiations between the United States and China which is beginning to raise concerns among investors and with this the risk levels are going high but all will be made clear at the G-20 meeting scheduled to take place next week.

The European Union single currency is also reacting promptly at the sell-off of the USD and the release of the PMI prints are already pointing that there is a strong recovery undergoing the currency pair.

At the same time across the ocean in the United States the Markit is going to publish its preliminary readings for PMI prints in the United States economy followed close up by the Existing Home Sales data for the previous month.

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

Still in the EU the European Commission is going to publish its preliminary measures of the Consumer Confidence for the Euro zone.

At the same time across the ocean in the United States the Markit is going to publish its preliminary readings for PMI prints in the United States economy followed close up by the Existing Home Sales data for the previous 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

Sell is the main action for EUR/USD exchange rate

Highest level = 1.1340

Lowest level = 1.1290

Volatility level = High

Today’s Forex predictions

Here is my EUR USD forecast for tomorrow

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Buy – 15%

Sell – 85%

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 upwards by a positive value of +0.33% and it is trading in the proximity of the 1.1326 level and it is in my belief that by jumping over the 1.1347 level this will definitely clear the trading path towards the 1.1351 level followed close up by 1.1448.

On the other side of the medal I have noticed that there are several solid points starting with 1.1181 followed close up by 1.1176 and lastly ending with 1.1115.

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