eur usd, forex forecast

EUR USD is trading close to 1.1660 – German CPI data is now on tap

Are you searching for a strong currency which is racing upwards on the trading chart? Guess what? Now you can make some great Pips on the EUR USD currency pair!

Here I will share what I believe about the EUR/USD movement on the trading chart today. I will explain in details why this is going to happen and how can it be in your advantage.

  • EUR USD is trading at the beginning of the week in the vicinity of the 1.1660 level.
  • The US DXY index continues to stay under 95 in the vicinity of the 94.80 value.
  • The release of the CPI data in Germany is the hottest event.

According to FxEmpire.com today the EUR/USD shared currency pair is trading in the close vicinity of the 1.1680 level and it is looking towards low volume points in which to set up a solid base and continue its journey towards the 1.1700 level.

EUR USD analysts now believe that at the beginning of the trading week the currency fluctuations between gains and losses are now almost even and so far it seems that there is a solid base around the 1.1660 point.

eur usd, forex forecast

EUR/USD influenced heavily by EU data today

Today EUR USD traders have noticed a huge lack of volatility in the Forex markets but some improvements have been registered in the release of the GDP data in the United States which has somehow managed to stabilize the trading process.

Traders and investors will be quietly waiting for the release of the CPI data in Germany for the current month and consider this event to be biggest market driver for today.

According to a recent CFTC report the European single currency has some traction this month but fortunately is recovering at a slow pace and so is the USD.

In the meantime across the ocean in the US the EUR/USD shared currency pair will receive a lot of influence from Home Sales figures and more important the USD Fed manufacturing index is also going to be a huge market driver for the entire trading week.

Let us know how you feel about the EU and US trade deal? When will it end? Do you think that the release of the US GDP data will help ease the trading tone a little? Even if you are a novice trader we would still like to know your opinion!

Highest level = 1.1686

Lowest level = 1.1650

Volatility level = Normal

Our Trading Predictions

We advise you to:

  • Sell 28%
  • Buy 72%

 

S3 = 1.1523 S2= 1.1541 S1 = 1.1610

R1 = 1.1700 R2 = 1.1712 R3 = 1.1740

 

 

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EUR/USD significant trading levels

For the being the EUR/USD shared currency pair is going downwards by a negative value of -0.2% and it is trading in the close vicinity of the 1.1656 level and it will meet some support around the 1.1625 level continuing with the 1.1575 level and lastly ending with the 1.1527 level.

On the other side of the table by jumping past the 1.1749 level this will clear the trading path towards the 1.1792 level at first followed close after the 1.1853 point.

We value your opinion very much so please let us know how you feel about our predictions? Follow us and become a better trader!

 

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