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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!
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A summary of Highs and Lows for the EUR USD
Highest level = 1.1290
Lowest level = 1.1230
Volatility level = Extremely 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 +0.19% 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.Join Zulutrade now
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