eur usd, eur usd exchange rate

EUR/USD is struggling around 1.1270, EMU data on tap

  • EUR/USD currency pair has lost a lot of speed around the 1.1275 level.
  • The releases of the EMU Industrial Production data is one of the most expected releases.
  • In the United States the Producer Prices will definitely have a significant impact.
  • There is a lot of optimism surrounding the currency pair which, for now at least, stopped around the 1.1270 level.

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According to Fxempire.com today the EUR USD shared currency pair is trading low in the proximity of the 1.1270 level and it is currently deploying a lot of effort in jumping past this levels towards the 1.1300 level.

EUR/USD keeps a close eye on the EMU data

I have noticed that at the end of the trading week the EUR USD shared currency pair is making small but solid progress on the trading chart and it is advancing for the third session in a row towards the 1.1280 level.

There are also several changes in the market where the currency pair will continue to receiving considerable support from the dovish tone of Mr. Powell’s statements as well as from the release of the FOMC figures in the United States. Investors will also be keeping a close eye on the Federal Reserve updates later this month about any possible cuts for the upcoming months.

As for the European Union the release of the Industrial Production and the Producer Prices for the previous month of June will be the one of the most important source of influence for the overall trading process.

I have noticed that across the pond in the United States there is a lot of interest surrounding the upcoming speech held by FOMC official respectively Mr. C.Evans.

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

I believe that a lot of influence is still coming from the management changes within the European Central Bank leadership where Mr. C.Lagarde has been nominated to succeed Mario Draghi and because of this the ongoing slowdown in the region might come to an end as Lagarde will deploy all effort to stop this from continuing.

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 = 1.1290

Lowest level = 1.1230

Volatility level = Extremely High

Sell is the main action for EUR/USD exchange rate

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 upwards by a positive value of  +0.19% and it is trading in the proximity of the 1.1274 level and I believe that by jumping over the 1.1286 level this will definitely clear the trading path towards the 1.1324 level followed close up by 1.1412.

On the other side of the medal I have noticed that there are several solid levels starting with 1.1193 continuing with 1.1181 and lastly ending with 1.1106.

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