Today the EUR/USD shared currency pair is trading in the close vicinity of the 1.1800 level as the shared currency pair is getting weaker and weaker.
EUR/USD analysts have recently noticed that the selling pressure has managed to grow significantly around the US dollar thus the US DXY Index has fallen even more under the 92.00 value and this spells bad news for the US economy on the trading chart and on top of this the new tax reform is just around the corner and it will continue to take the trading cross on a downwards trend.
In the meantime in the European Union EUR/USD traders have noticed that the inflation data release earlier in Germany are already under most predictions for the current month and the HICP data is waiting to come out into the lime light.
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High = 1.1810
Low = 1.1750
S3 = 1.1904 S2= 1.1928 S1 = 1.1963
R1 = 1.2019 R2 = 1.2042 R3 = 1.12076
For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.43% and it is trading close to the 1.1795 level and it will be relying heavily on the 1.1812 level continuing with the 1.1879 level and lastly ending with the 1.1910 level.
On the other side of the medal by jumping over the 1.1662 barrier this will surely clear the trading path towards the 1.1556 level and lastly ending with the 1.1325 point.