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 1.1370 level and it is already showing significant sings of moving towards the 1.1390 level towards the end of the trading session and the end of the trading week respectively.
EUR/USD receiving strong influence from the G-20 meeting
The EUR USD shared currency pair is going to keep the trading cross above the 1.1350 level and all eyes are going to be fixed on the G-20 upcoming meeting especially on the discussions between Donald Trump and his Chinese counterpart Mr. Xi.
EUR continues to stay solid and it is patiently waiting for the release of the inflation data in the European Union.
At the same time across the ocean in the United States the DXY index did not manage to offer any traction for the trading cross, however some positive vibes came from the release of the Core PCE which went upwards by +0.2% on a monthly basis and by +1.6% on a yearly pace.
The release of the Personal Income data also increased by a value of +0.6% and the Personal Spending data went upwards by +0.4% on a monthly basis.
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
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Today’s Forex predictions
Here is my EUR USD forecast for tomorrow
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 value of +0.14% and it is trading in the proximity of the 1.1381 level and I believe that by jumping over the 1.1412 level this will definitely clear the trading path towards the 1.1419 point followed close up by 1.1448.
On the other side of the coin I have noticed that there are several solid points starting with 1.1344 continuing with 1.1260 level and lastly ending with 1.1181.
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