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!
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According to Fxempire.com today the EUR USD shared currency pair is trading in the close vicinity of the 1.1320 level and there are some hints that the cross is going to set up camp in the proximity of the 1.1325 support point.
EUR/USD keeps a close eye on US data
I have noticed today that the EUR USD shared currency pair is trading in the proximity of the 1.1320 level and there is a negative trend looming at the horizon but for the time being there is a solid trading sentiment surrounding the USD, but it will definitely continue to receive influence from the never ending trade dispute between the United States and China and it is also going to react at the G-20 failure between President Donald Trump and President Xi.
I also believe that there is going to be a lot of pressure today and it has gathered a lot of buying interest even with the weak data release of the manufacturing PMI prints in the European Union. Positive vibes came from the release for the labor data in Germany.
The release of the ISM figures in the United States and the Markit’s final PMI prints are the most awaited data releases.
Investors feel confident that the slowdown in the European Union and the ongoing political jitters in Italy is definitely going to be a strong source of uncertainty and volatility for EUR single currency which is very unfriendly towards the new EU fiscal rules.
Why I think EUR/USD exchange rate is one of the best currencies to trade right now
At the same time the shared currency pair is receiving a lot of trading support in the proximity of the 200-day SMA.
Later in the US trading session the release of the U-Mich index is going to offer a lot of trading influence.
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 = 1.1390
Lowest level = 1.1310
Volatility level = 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 -0.18% and it is trading in the close vicinity of the 1.1346 level and it is going to receive a lot of support from the 1.1316 level followed close up by 1.1260 and lastly ending with 1.1181.
On the other side of the coin I have noticed that by jumping over the 1.1412 level this will definitely clear the trading path towards the 1.1419 level followed close up by 1.1448.
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