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 1.1260 level but it is already showing significant signs of moving towards the 1.1300 level because of the weak US ADP data report released earlier.
EUR/USD is reacting at the US ISM release
I believe that the EUR USD shared currency pair is going upwards towards fresh new high levels beginning with 1.1300 and this actually ignited a new selling wave for the USD.
The US DXY index has managed to ignite a selling bias and the European Commission and Italy are generating a lot of fiscal problems in the EU.
As for data releases the Producer Prices landed under most predictions for the previous month, but at the same time the PMI prints have also been released in the European Union and brought a great improvement.
At the same time across the ocean in the United States the ADP report has managed to show that the US private sector added about 27.000 jobs in the previous month, which is the lowest this year.
Back in the EU the release of the preliminary inflation figures have shown that the consumer prices are going down.
The USD dynamics are reacting very promptly to the ongoing trading negotiations between the US and China, the EU and Mexico.
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
Highest level = 1.1240
Lowest level = 1.1190
Volatility level = Extremely 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 +0.39% and it is trading in the close vicinity of the 1.1291 level therefore by jumping over the 1.1306 level this will definitely clear the trading path towards 1.1323 at first followed close up by 1.1343.
On the other side of the medal there are several solid points starting with 1.1217 continuing with 1.1190 and lastly ending with 1.1116.
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