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 close vicinity of the 1.1180 and it is already showing strong signs of moving upwards in the proximity of the 1.1200 level by the end of the trading session.
EUR/USD keeps a close eye on the US data
I have noticed that the EUR USD shared currency pair will continue to be under a lot of pressure and it will be receiving a lot of positive influence from both the United States as well as from the German data.
It is in my belief that the negotiations between the United States and China will continue to keep the trading sentiment tensed in the global trading markets and the upcoming meeting between US and Chinese officials in Washington DC will definitely bring a lot of stir.
Back on the old continent in the European Union investors are keeping a close eye on the release of the Factory Orders data in the Germany which already have been predicted to land low for the previous month of March.
At the same time across the ocean in the North American trading session the release of the IBD and TIPP index will be followed close up by the KOL data which has been predicted to offer a breath of fresh air to the overall trading process.
I also believe that the release of the Employment data as well as the FOMC conference where mr. R.Quarles will be holding a speech.
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 German data releases which will have a significant impact on the regional economic slowdown.
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!
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A summary of Highs and Lows for the EUR USD
Highest level = 1.1240
Lowest level = 1.1190
Volatility level = High
Today’s Forex predictions
Here is my EUR USD forecast for tomorrow
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 +0.13% and it is trading in the close vicinity of the 1.1184 level and it is relying for support on the 1.1135 level followed close up by 1.1109 and lastly ending with 1.0839.
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 1.1269 point followed close up by 1.1323.
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