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 close vicinity of the 1.1255 level and it is already showing significant signs of moving upwards in the proximity of the 1.1270 level until the trading session ends.
EUR/USD reacting better to risk levels
I have noticed today that the EUR USD currency pair is trading on the positive side of the trading chart and at the beginning of the trading week in only a couple of hours it has managed to reverse what it has lost in three consecutive pullbacks.
It is in my belief that the trading momentum will continue to stay on the bright side of the chart and the trading sentiment will be more careful to risky situations, more important the selling bias will definitely have a significant impact on the US DXY index.
I have noticed that a lot of influence is coming in from the recent changes in the Chinese economy as well as from the positive data releases in the United States, these, combined have managed to create a significant pressure around the USD and it has pushed the trading cross above the 1.1250 level.
As for data releases the Sentix Index has managed to jump past the -0.3 deficit it has encountered last month and it has managed to enhance the trading mood surrounding the currency pair.
I also feel confident that the release of the Factory Orders in the United States will also create a positive and healthy trading environment for the currency pair.
Why I think EUR USD exchange rate is one of the best currencies to trade right now
I feel confident that the EUR single currency will continue to stay under a lot of steam for the time being and at the bottom of this stand the recent weak data releases in the European Union.
In fact, recent disappointing readings in the region somehow confirm that the slowdown in the bloc 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 = 1.1260
Lowest level = 1.1240
Volatility level = Very High
Today’s Forex predictions
Here is my EUR USD forecast for tomorrow
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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 currency pair is going upwards by a positive value of +0.28% and it is trading in the close vicinity of the 1.1246 level therefore by breaching the 1.1254 level this will definitely clear the trading path towards the 1.1277 level at first followed close up by 1.1337.
On the other side of the coin there are several solid points beginning with 1.1183 followed close up by 1.1176 and lastly ending with 1.1118.
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