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!
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According to Fxempire.com today the EUR USD shared currency pair is trading in the proximity of the 1.1160 level and it seems that it is ending the trading week on a low note and the debut of the next week seems to be in the same trading manner.
EUR/USD vulnerable because of Italian data
I have noticed that EUR USD shared currency pair is reacting at the US DXY index which has published a value close to 98.00, the highest this month.
In the meantime the negotiations tensions between the United States and China begin to intensify and also continue to remain the main market driver for the risk levels. Chinese officials have already announced that there will be no easing of the tensions especially after the United States blacklisted the Chinese telecom giant Huawei.
On top of this there is a political effervescence unraveling in Italy which has stated that the European policymakers need to be extra careful especially before the EU parliamentary elections and to acknowledge that there will be a stronger presence of populism in the Parliament.
Why I think EUR/USD exchange rate is one of the best currencies to trade right now
As for data release the calendar is rather shallow all eyes will continue to stay fixed on the US and China trade negotiations and there is a high probability that the United States will impose new tariffs on many EU products.
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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|Forex and Profits presents Today’s Free Forex Signal
A summary of Highs and Lows for the EUR USD
Highest level = 1.1210
Lowest level = 1.1160
Volatility level = Extremely High
Today’s Forex predictions
Here is my EUR USD forecast for tomorrow
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Buy – 25%
Sell – 75%
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 downwards by a negative value of -0.05% and it is trading in the close vicinity of the 1.1169 level and it is relying heavily on the 1.1135 level followed close up by 1.1109 and lastly ending with 1.0839.
On the other side of the medal I believe that by jumping over the 1.1246 level this will clear the trading path towards 1.1264 and lastly ending with 1.1308.
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