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 pair is trading in the close vicinity of the 1.1300 level and it is deploying a lot of effort in jumping towards the 1.1320 point and it is reacting promptly at the EMU data.
EUR/USD influenced by the USD dynamics
Today I have noticed that the shared currency pair is moving upwards and it is receiving plenty of solid influence from the European Central Bank and it seem to be regaining a lot of lost traction and with this the selling mood is quickly surrounding the USD.
I have also noticed that there is a strong risk-associated environment in the market and EUR single currency will deploy a lot of effort in jumping past the 1.1300 level.
I believe that the Industrial Production figures release in the European Union for the previous month will create a lot of traction on the chart and it will be coming ahead of the Import/Export Prices as well as the U-Mich index in the United States.
It is in my belief that the European Central Bank has underlined that there will be some risks hovering over the economic outlook in the EU region.
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.
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
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 +0.31% and it is trading in the close vicinity of the 1.1315 and I believe that by jumping over the 1.1294 level this will open the trading path towards the 1.1315 point followed close up by 1.1338 level.
On the other side of the coin there are several solid points starting with 1.1241 continuing with 1.1183 point and lastly ending with 1.1176.
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