eur usd exchange rate

EUR/USD pair jumped to 1.1400, ECB data still on tap

  • EUR/USD is taking on a consolidative path which with the 1.1140 level.
  • The US DXY index has posted a value close to the 98.00 with small variations.
  • All eyes will be fixed on the flash Q1 GDP figures release in the United States.
  • Investors continue to believe that the currency pair will continue to stay fragile until next week.

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According to today the EUR USD shared currency pair is trading in the close vicinity of the 1.1120 level and it is already showing solid signs of moving upwards towards the 1.1400 level thus igniting a consolidation path.

EUR/USD now looks to US data

I have noticed that at the end of the trading week there have been three consecutive daily pullbacks in this weekly session and the lowest point of the week has been 1.1115, fortunately the trading cross has managed to find some safe haven in the proximity of the 1.1140 level where it will be also gathering some support.

I am also well aware that the trading mood will continue to remain deteriorated filled with risky situations until the beginning of the next trading week, one key factor to this development has been the very weak data releases and prints from the European Union this however has managed to offer some extra breathing space for the USD dynamics to evolve.

I believe that the currency pair will also react to the release of the GDP January to March data in the United States and it will also react to the releases of the Consumer Sentiment for the current month of April.

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

I feel confident that there will be a strong risk sentiment shadowing the EUR USD currency pair and it will be receiving some serious influence from the US and China trade dispute as well as from the releases of the US tariffs on European Union products.

The European Central Bank will continue to stay in a neutral position for the measurable future.

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

Sell is the main action for EUR/USD exchange rate

Highest level = 1.1260

Lowest level = 1.1130

Volatility level = Extremely High

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Today’s Forex predictions

Here is my EUR USD forecast for tomorrow

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 shared currency pair is going upwards by a positive value of +0.7% and it is currently trading in the proximity of the 1.1138 level I am also very confident that by jumping over the 1.1233 level this will definitely clear the trading path towards the 1.1282 level at first followed close up by 1.1323.

On the other side of the trading table there are several solid levels beginning with 1.1118 followed close up by 1.0839 and lastly ending with 1.0569.

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