EUR/USD pair goes down 1.1150, EU data eyed

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  • EUR/USD is trading low around 1.1147.
  • The release of the US DXY index has stalled around the 97.00 value.
  • The United States ADP report is one of the most important data releases.
  • The shared currency pair is facing a lot of solid resistance around the 1.1250 point.

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According to Fxempire.com today the EUR/USD shared currency pair is trading in the close vicinity of the 1.1175 low level and it is currently deploying a lot of effort in retaking the 1.1200 point, hopefully the release of ISM Non-manufacturing index will offer enough support.

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EUR/USD reacts to US trading data

Today I have noticed that the EUR USD shared currency pair is deploying a lot of effort in retaking the 1.1200 and so far it is still hovering over the 1.1180 point.

I believe that there is a lot of positive data coming in from the Chinese services data releases and there is also a lot of solid optimism shadowing the US-China trade negotiations which so far has managed to uplift the overall trading sentiment regarding the risk related USD assets.

Across the ocean in the United States investors are quietly waiting for the release of monthly labor report of the private sector, I also think that all eyes will be fixed on the release of the ISM Non-manufacturing figures as well as crude oil data.

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

It is in my belief that the EUR single currency will continue to stay under a lot of solid pressure and this came in as no surprise because of the weak data releases in the European Union.

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!

Sell is the main action for EUR/USD exchange rate

Forex and Profits presents Today’s Free Forex Signal

A summary of Highs and Lows for the EUR USD

Highest level = 1.1255

Lowest level = 1.1220

Volatility level = High

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Today’s Forex predictions

Here is my EUR/USD forecast for tomorrow

Buy – 40%

Sell – 60%

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 -0.39% and it is trading in the close vicinity of the 1.1247 level and I believe that by jumping over the 1.1254 level this will definitely clear the trading path towards the 1.1280 level followed close up by 1.1338.

On the other side of the medal there are several solid points starting with 1.1183 continuing with 1.1176 and lastly ending with 1.1118.

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