eur usd, ecur usd exchange rate

EUR/USD is now trading low close to 1.1200, Italian data on tap

  • EUR/USD has gathered a lot of speed around the 1.1200 level.
  • All eyes are now fixed on the 100-day SMA next to 1.1250.
  • The European Central Bank is revising some inflation levels.
  • After reaching the 1.1250 level the cross was unable to maintain this point and fell close to 1.1200.

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According to today the EUR USD shared currency pair has traded for a while in the close vicinity of the 1.1250 level and it now trading next to 1.1200 low level after the release of the weak ECB data.

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EUR/USD going weak because of the ECB

I have noticed that today the EUR single currency has lost a lot of trading momentum even from the beginning of the session and at the bottom of this stands the most recent announcement issued by the European Central Bank which is going to deploy all of its effort in revising the overall inflation levels in the Euro zone.

Another direct hit for the previous good sentiment came from Italy where Di Maio noted that the Lega party wants to renew the government.

The trading cross landed close to 1.1200 according to the 100-day SMA and it seems that it will be camping here until the trading session ends.

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I have also seen that there is a strong selling interest weighing heavily on the USD, another negative amount of influence is also coming in from across the ocean in the United States where the housing sector has posted a low discouraging value.

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

A lot of data is still coming in from the United States and China infinite trade negotiations which will keep the trading cross around the 1.1200 level for a while longer.

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 – 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 a negative value of -0.14% and it is trading in the vicinity of the 1.1211 level and it is relying heavily on the 1.1193 point continuing with 1.1181 and lastly ending with 1.1106.

On the other side of the medal I believe that by jumping over the 1.1286 level this will definitely clear the trading path towards the 1.1319 point followed close up by 1.1412.

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