Today the EUR/USD shared currency pair is trading in the close vicinity of the 1.2000 level but it seems that it will set up camp close to the 1.2050 level where is has the most support.
EUR/USD analysts have recently concluded that the shared currency pair will continue to stay in a bullish are mostly because of the European Central Bank which has previously declared that the shared currency pair will grow in volume which has begun in the Economic Forum in Portugal.
EUR/USD traders feel rather confident now that the trading cross will be building a lot of selling steam in the upcoming trading session and it is not going to receive any help from the US DXY Index which has posted a new record low value close to the 91.70 therefore eliminating most of the hopes.
At the same time in the United States the Philly Fed Harker speech is the hottest event which will have a strong influence on the overall trading process.
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High = 1.2080
Low = 1.1940
S3 = 1.1752 S2= 1.1782 S1 = 1.1752
R1 = 1.1930 R2 = 1.1954 R3 = 1.1212
EUR/USD important trading levels
Right now the EUR/USD shared currency pair will be going upwards by a positive value of +0.25% and it will be trading close to the 1.2052 value therefore by breaching the 1.2092 level this will definitely clear the trading path towards the 1.2100 level at first followed close up by the 1.2167 level.
On the other side of the medal there are several solid levels beginning with the 1.1945 level continuing with the 1.1866 level at first followed shortly after the desired value of 1.1823.