eur usd, ecur usd exchange rate

EUR/USD pair camps close to 1.1310, ECB data eyed

  • EUR/USD pair continues to keep a firm grip on the 1.1300 level.
  • The releases of the EMU data in March landed with a +1.4% on a yearly basis.
  • The Trade Balance and Beige Book are the most important data releases in the US.
  • There is a very firm trading note surrounding the European Union currency pair.

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According to Fxempire.com today the EUR USD shared currency pair is trading in the close vicinity of the 1.1300 level and it is showing solid signs of moving towards the 1.1320 level therefore slicing a piece of pie from the daily high levels.

EUR/USD reacted slowly at the EMU CPI figures release

Today I have noticed that the trading cross is still keeping to itself on the in the safe side of the chart and the familiar range of 1.1300 has been virtually unchanged, however it did show some signs at the recent inflation data release in the European Union for the previous month of March and by all means it has managed to land according to most predictions.

I’ve also noticed that at the same time across the ocean in the United State the EMU CPI figures went upwards by a positive value of +1.6% on a yearly basis except food and energy costs gained it went upwards by +0.8% on a yearly basis, and yet, surprisingly did not manage to produce any solid effects on the overall trading pace.

I think that the Trade Balance figures followed by the Wholesale Inventories, the EIA’s weekly report on US crude oil stockpiles and the Fed’s Beige Book are some of the most important data release in the NA trading session. On top of this Philly Fed P.Harker is scheduled to speak later towards the end of the trading session.

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

It is in my believe that there is a rather positive sentiment regarding risk levels and will come as a breath of fresh air, positive vibes will also be coming from the European Central Bank which isa going to address the slowdown in the EU and its effects.

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 = 1.1320

Lowest level = 1.1270

Volatility level = Very High

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Today’s Forex predictions

Here is my EUR USD forecast for tomorrow

Sell is the main action for EUR/USD exchange rate

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 upwards by a positive value of +0.32% and it is trading in the close vicinity of the 1.3115 level therefore by breaching the 1.1337 level this will definitely clear the trading path towards the 1.1344 point followed close up by 1.1419.

On the other side of the coin there are several solid points starting with 1.1269 followed close up by 1.1183 and lastly ending with 1.1176.

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