EUR USD jumped to 1.1750 because of positive US figures

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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.

  • The EUR USD currency pair is trading in a steady line in the proximity of the 1.1750 level.
  • The US DXY index is building up a lot of steam due to constant low levels.
  • US Personal Income/Spending landed according to most expectations.

According to FxEmpire.com today the EUR/USD shared currency pair has received a lot of trading influence from the US data releases and because the housing data is just around the corner analysts believe that this is actually the calm before the storm.

Today EUR USD analysts have noticed that the shared currency pair is on a 3 day high streak and for now at least it has managed to settle in the close vicinity of the 1.1750 level where it will most probably wait for the release of the inflation data in the European Union to come out before venturing ant further.

eur usd, forex forecast

EUR/USD influenced heavily by the US data releases

EUR/USD traders now feel confident that the shared currency pair is going to trade above the 1.1700 level and the US has been packed with data releases today many of which have had a major influence on the overall trading process and everyone will be waiting for the Core PCE to come out. Positive influence has been coming in from the releases of the Personal Income and Spending data which has increased by a value of +0.4% compared to last month.

More important the FOMC conference is just around the corner and from there on traders will be patiently waiting for the release of the ISM production data as well as the non-farm payrolls.

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 ISM Manufacturing data will ease off some of the inflation levels? Even if you are a novice trader we would still like to know your opinion!

Highest level = 1.1756

Lowest level = 1.1715

Volatility level = Normal

Our Trading Predictions

We advise you to:

  • Sell 22%
  • Buy 78%

S3 = 1.1623 S2= 1.1641 S1 = 1.1710

R1 = 1.1810 R2 = 1.1812 R3 = 1.1840

 

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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% and it is trading in the close vicinity of the 1.1732 level therefore by jumping past the 1.1749 level this will clear the trading path towards the 1.1792 level and lastly ending with the 1.1854 point.

On the other side of the table by breaching the 1.1621 barrier this will definitely open the way towards the 1.1575 level at first continuing with the 1.1527 level.

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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