EUR/USD is camping next to 1.1190, ECB data eyed

  • EUR/USD picks up the trading pace around 1.1190.
  • All eyes will continue to stay fixed on the US and China trade negotiations.
  • The release of the Flash Q1 GDP in the United States has managed to bring a huge amount of positive vibes.
  • The US DXY index has managed to help the cross jump past the 1.1190 low point.

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According to Fxempire.com today the EUR USD shared currency pair is trading in the close vicinity of the 1.1190 level and it is already showing solid signs of moving upwards towards the 1.1200 point at the end of the trading month.

EUR/USD reacts at the US figures

I have noticed that the EUR USD shared currency pair has managed to regain some lost territory mostly because of the recent United States data releases especially those regarding the Q1 GDP measurement which already has managed to underline the fact that the trading economy has expanded in value by +3.1% on a yearly basis, at the same time the GDP Price Index also went upwards by +0.5%.

However there is some bad news pointing out that the deficit has reached a sum of $72.12 billion for the previous month of April.

I have also noticed that Initial Claims went upwards by a value of 215.000.

Across the ocean the unsolved trade negotiations between the US and China is having a significant impact on the overall global evolution and so far the yields are the main driver for price action in the markets.

Back on the old continue investors have announced that they are patiently waiting for the European Central Bank meeting to come to an end.

Still there is a solid influence coming in from Germany which is highlighting the idea that the healing process might take a while until it appears in the region.

The United States is going to impose new tariffs on European Union products and this will definitely have a significant impact on the overall trading process across the global markets as well as on inflation levels.

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

As for political influences the Italian government has announced its long list of worries regarding the volatility level across the chart as well as the economic discomfort that it is going to influence the European Union fiscal rules.

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 = 1.1240

Lowest level = 1.1190

Volatility level = Extremely 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 +0.07% and it is trading in the close vicinity of the 1.1138 level therefore I believe that by jumping over the 1.1215 level this will definitely clear the trading path towards the 1.1226 level followed close up by the 1.1264 point.

On the other side of the medal I have noticed that there are several solid levels starting with 1.1124 continuing with 1.1107 and lastly ending with 1.0905.

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