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 1.1190 level and it is showing strong signs of setting up camp in the proximity of the support zone of 1.1200.
EUR/USD keeps a close eye on US-related events
I have noticed that the shared currency pair has managed to meet a lot of support around the 1.1190 level and it is preparing to reach the 1.1200 level.
In the European Union the decline of the German yields is having a strong impact on the economic movement in the region and it is further enhancing the slowdown in the euro zone, more important investors believe that some rate cuts my appear from the European Central Bank.
As for data releases the Industrial Production data in Italy are the most important figures of the trading day in the EU.
Across the ocean in the United States the Fed’s Powell statement will be of high importance as well as the release of the FOMC minutes.
Why I think EUR/USD exchange rate is one of the best currencies to trade right now
As for data releases the Services PMIs in the European Union and Germany has managed to bring softer trading tone for the EUR single currency.
At the same time across the ocean the release of the Initial Claims data went upwards more thatn everyone had previously predicted and the US private sector added fewer jobs than recently forecasted.
Today I advise you to use the SELL action as much as possible!
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A summary of Highs and Lows for the EUR USD
Highest level = 1.1270
Lowest level = 1.1220
Volatility level = Very High
Today’s Forex predictions
Here is my EUR USD forecast for tomorrowFollow this trader now
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 upwards by a positive value of +0.4% and it is trading in the proximity of the 1.1215 level and I believe that by jumping over the 1.1231 level this will definitely clear the path towards the 1.1326 followed close up by 1.1412.
On the other side of the coin I have noticed that the shared currency pair is relying heavily on the 1.1193 level followed close up by 1.1181 and lastly ending with 1.1106.Join Zulutrade now
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