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!
According to Fxempire.com today the EUR USD shared currency has managed to jump past the 1.1200 resistance level and after testing for a while the 1.1230 point it has managed to reach the 1.1250 trading point where it will try to set up camp over the weekend.
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EUR/USD is now very fragile to risk levels
I have noticed that the EURUSD currency pair has managed to recover some last territory on the chart and since the beginning of the trading week it has managed to navigate towards the lower side of market, but it has managed to maintain the cross in the proximity of the 1.1220 point.
It is now more than clear that the shared currency pair is not receiving any more influence from the never ending US and China trade negotiations and no matter the outcome good or bad the pair will simply step over this confusing chain of economic negotiations.
In the European Union investors have noticed that the release of the Industrial Production figures in Germany has increased by a positive value of +0.7% on a month to month basis and with this it has managed to exceed most expectations.
Why I think EUR/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 trading pressure and the risk levels will react promptly to the US DXY index values.
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 = 1.1255
Lowest level = 1.1220
Volatility level = High
Today’s Forex predictions
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Here is my EUR USD forecast for tomorrow
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 +0.11% and it is trading in the proximity of the 1.1239 level therefore by breaching the 1.1254 level this will definitely clear the trading path towards the 1.1278 level at first followed close up by 1.1338.
On the other side of the coin there are several solid points beginning with 1.1183 continuing with 1.1176 and lastly ending with 1.1118.
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