eur usd exchange rate

EUR/USD jumped over 1.1260, US-China negotiations still on tap

  • EUR/USD reacted positively after the release of the Chinese trade news.
  • The US DXY index has managed to publish a value close to 97.00.
  • China has officially stated that it is going to bring many new tariffs on over 6000 US based products.
  • The beginning of the trading week has sparked a brand new selling pressure.

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According to 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.

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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.

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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!

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 = 1.1280

Lowest level = 1.1210

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Volatility level = Extremely High

Today’s Forex predictions

Here is my EUR USD forecast for tomorrow

Sell is the main action for EUR/USD exchange rate

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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