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 upwards in the close vicinity of the 1.1260 level and it is already showing strong signs of moving higher towards the 1.1280 towards the end of the trading session.
EUR/USD is reacting promptly at US China negotiations
I have noticed that the trading cross has managed to push high just as the trading week began and it has reacting promptly after Chinese officials announced that there will be a brand new set of taxes on over 6000 US based products which already has been estimated to be worth over $60 billion.
I have also noticed that rumors hint that China might open a path towards renouncing some important import and export contracts this in turn has managed to ignite a very volatile situation for the USD single currency.
This Chinese measure came as a direct response to the United States official announcement of imposing new tariffs on many Chinese products beginning with the month of August.
This is a very risky measure because China might not make any concessions and all of this will definitely add up to the failure of the trade talks in Washington.
Why I think EUR/USD exchange rate is one of the best currencies to trade right now
As for data release I believe that solid influence will be coming in from the European Union where the German ZEW survey will provide a professional outlook for the EU zone.
I will continue to be confident that the USD trading dynamics are going to keep the trading cross high on the chart and it is more than clear that the US and China trade negotiations will be once again the center of the overall trading process .As for political influences the upcoming parliamentary elections in the European Union are offering a lot of influence and all investors will keep a close eye on the populist option among voters.
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 = 1.1280
Lowest level = 1.1210
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 +0.26% at the beginning of the trading week and it is trading in the proximity of the 1.1258 level and I believe that by jumping over the 1.1264 level this will definitely clear the trading path towards the 1.1317 level followed close up by 1.1323.
On the other side of the medal there are several solid points starting with 1.1135 followed close up by 1.1109 and lastly ending with 1.0839.
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