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!
According to Fxempire.com today the EUR USD shared currency pair is trading in the close vicinity of the 1.1190 level and it is show signs of moving downwards in the proximity of the 1.1120 point and it is reacting promptly at the release of the US advanced Q1 GDP figures.
EUR/USD is keeping a close eye on US data
I have recently noticed that the European single currency will continue to stay remains fragile until the trading week finishes and investors hope that the week will end on a positive key, but until that happens no one has any idea as to which direction is the cross heading. In the European Union traders are still waiting for some vibes from the German data releases, also on the old continent I have noticed that a lot of trading influence is coming from the political segment where Brussels and Rome are have a sharp negotiations over many already existent fiscal issues.
It is in my belief that the overall global growth will be in a direct relation with the development of the US and China trade negotiations. Furthermore the US President Donald Trump has recently announced that the USA is going to impose a new set of tariffs on Mexican based products in the near future.
Another important fact is the release of the inflation figures in Spain which will definitely be worth looking at in order to predict certain trading patterns.
Why I think EUR/USD exchange rate is one of the best currencies to trade right now
As for political influences the Italian government has announced its long list of worries regarding the volatility level across the chart as well as the economic discomfort that it is going to influence the European Union fiscal rules.
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!
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A summary of Highs and Lows for the EUR USD
Highest level = 1.1240
Lowest level = 1.1190
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR USD forecast for tomorrow
Buy – 15%
Sell – 85%
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 +0.08% and it is currently trading in the close vicinity of the 1.1195 level and I honestly believe that by jumping over the 1.1215 level this will definitely open the trading path towards the 1.1226 level at first followed close up by 1.1264.
On the other side of the coin there are several solid levels beginning with 1.1124 continuing with 1.1107 and lastly ending with 1.0905.
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