eur usd, eur usd exchange rate

EUR/USD pair clings to 1.1250, US data on tap

  • EUR/USD currency pair has managed to catch some momentum close to 1.1250.
  • The release of the Flash EMU CPI data landed very nicely.
  • All eyes are now on the US Retail Sales and the ISM manufacturing index.
  • There is a lot of selling pressure surrounding the currency pair.

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According to today the EUR USD shared currency pair is trading in the close vicinity of the 1.1230 level and there are several chances that the trading cross is going to jump in the proximity of the 1.1240 level until the trading session ends.

EUR/USD keeps a close eye on the US trading data

At the beginning of the trading month I have noticed that the shared currency pair has managed to jump past the 1.1250 trading level, all of this happened immediately after the release of the inflation data in the European Union and the consumer prices have managed jump by a positive value of +1.4% on a yearly basis, coming in far away from most predicted values.

This comes in as no surprise for investors mostly because after last week’s flash CPI data release in Germany the economic sentiment is not doing so well and pessimism is beginning to catch ground.

I have noticed that the trading sentiment is rather solid in the risk-associated area and surprisingly the USD reacted promptly to the Chinese manufacturing PMI data release.

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

As for data releases all eyes are now fixed on the US Retail Sales as well as the ISM manufacturing figures scheduled to appear later today.

Investors will also be keeping a close eye on the UK where the House of Commons is already discussing other plans for Brexit.

The EUR/USD currency pair will definitely not respond in a positive manner to the disappointing advanced PMIs in the Eurozone and so far the German and EMU flash CPI did not offer any help in this tensed situation.

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

Sell is the main action for EUR/USD exchange rate

Highest level = 1.1255

Lowest level = 1.1220

Volatility level = High

Today’s Forex predictions

Here is my EUR USD forecast for tomorrow

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Buy – 0%

Sell – 100%

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 1.1235 level and I believe that by jumping over the 1.1291 level this will definitely clear the trading path towards the 1.1355 point at first followed close up by 1.1448.

On the other side of the medal there are several solid points starting with 1.1209 continuing with 1.1176 and lastly ending with 1.1118.

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