eur usd, ecur usd exchange rate

 EUR/USD jumped to 1.1320, ECB data on tap

  • EUR/USD currency pair is now trading in the close vicinity of 1.1320.
  • The releases of the US Philly Fed index went downwards by -0.3 for this current month.
  • The EMU Consumer Confidence is the most awaited data event of the week.
  • There is still a strong buying bias surrounding the pair and it is looking for support around the 1.1300 level.

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According to Fxempire.com today the EUR USD shared currency pair is trading high in the close vicinity of the 1.1320 level and it is showing significant signs of moving upwards close to the 1.1350 point in the near future and at the bottom of this stands the recent data releases in the US.

EUR/USD hopes to reach 1.1350 soon

I have noticed today that there is a lot of selling steam building up around the USD single currency just in the wake of the dovish shift from the FED at the FOMC conference, therefore supporting the USD-selling action is the main effect of the FED manufacturing data which went downwards by -0.3. Investors are keeping an eye on the Current Account deficit which has lost over 130.0 billion USD during the first quarter therefore missing by a long shot almost all predictions.

Many investors have already predicted that the positive movement of the cross is somewhat limited because in the near future the European Central Bank is search for a way to lower the rates as well as refreshing the QE agenda.

Why I think EUR/USD exchange rate is one of the best currencies to trade right now

Still in the EU the European Commission is going to publish its preliminary measures of the Consumer Confidence for the Euro zone.

There is a new dovish stance coming from the European Central Bank as well as from the USD-dynamics which appear to show the movement of the price action for the EU single currency pair.

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 = 1.1340

Lowest level = 1.1290

Volatility level = High

Sell is the main action for EUR/USD exchange rate

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 trading upwards by a positive value of +0.68% and it is trading in the vicinity of the 1.1297 level therefore by breaching the 1.1347 level this will definitely open the path towards the 1.1353 level followed close up by 1.1448.

On the other side of the coin there are several solid points starting with 1.1181 followed close up by 1.1176 and lastly ending with 1.1115.

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