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 1.1150 level and it is already showing strong signs of leaving this point behind in favor of the 1.1170 point towards the end of the trading session.
EUR/USD is trading sharp on 1.1170
I have noticed that at the beginning of the trading week the EUR USD shared currency pair is keeping the trading sentiment on tight leash because following today’s publications in the United States calendar the inflation figures measured by the Core PCE landed in a very disappointing manner for the previous month of March and +1.6% compared to the same period last year, thus both missing most predictions.
Furthermore the release of the Personal Income data has increased by a value of +0.2% on a monthly basis and the Personal Spending figures went upwards by +0.9% on a monthly basis therefore surpassing most forecasts.
I believe that the currency pair is slowly leaving the 1.1150 level behind in favor of 1.1170 and it is still receiving positive vibes from the US 10-year benchmark.
Why I think EUR USD exchange rate is one of the best currencies to trade right now
In the meantime across the ocean in the United States the USD-dynamics are influencing the European single currency for now and the ongoing trade dispute between US and China are still having a significant influence on the currency pair as well as the posting of the US tariffs on the EU products.
The European Central Bank will continue to stay in a neutral position for the measurable future.
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 = 1.1170
Lowest level = 1.1140
Volatility level = 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 +0.16% and it is trading in the close vicinity of the 1.1157 level therefore by breaching the 1.1174 level this will definitely clear the trading path towards the 1.1230 level at first followed close up by 1.1280.
In the meantime I have noticed that there are several solid points beginning with 1.1109 followed close up by 1.0839 and lastly ending with 1.0569.
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