- Outlook EUR / USD indicates further dollar weakness.
- The reports discovered that the American president plans to fire the President of Jerome Powell.
- The European central bank price last week, leaving space for more.
The EUR / USD appears to the further dollar weakness after Trump threats to fill the Fed Powell chair. Participants in the market throw Greenback and American property, allowing the euro to climb. Meanwhile, the ECB indicated a weaker growth in the eurozone due to Trump tariffs. As a result, traders priced more than one department in the coming months.
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The reports discovered that the American president was planning to fire the President of Jerome Powell fired. Since Trump took office, he advised that Fed would continue to cut interest rates. However, Powell remained cautious and waiting to see the influence of recent tariffs on the economy. The chair fed chair repeatedly said that they do not rush lower borrowing costs.
The reports caused more prevation in markets that recover from wild tariffs moves. Moreover, investors lost confidence in the American economy, how the dollar reduces.
Meanwhile, although the euro brought together, the European central bank bank rate last week and the left room for more. The President of the ECB Christine Lagard noticed that Trump Tariffs would hurt growth. However, she failed to give clear guidelines on the next meeting. However, market participants are expected to another incision in June. Meanwhile, policy makers can wait to see if the Trump tariff of 20% on the eurozone enter into force.
EUR / USD Key events Today
Today, traders do not expect any key economic issues. Therefore, the development of American policies will continue to be valid.
EUR / USD Technical Outlook: Usttrend passes last 1,1502 for the new high
On the technical side, EUR / USD price gathered and interrupted above the level of resilience at 1,1502. The move reached a new high, additional strengthening of bicocracy. The price is now well traded above the 30th, with RSI in the region to transfer the transfer. It shows a strong Usttrend.
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The bulls took responsibility when the price went above the 30th. They maintained the price above SMA, respecting it as firm support. At the same time, the price consistently gave a higher high and lowest temperature, pointing to a developed bakarian trend.
However, the bulls could pause on the resistance of 1,1602 to obtain the price to reset SMA. However, bacara bias will remain intact until the price trades above SMA and RSI above 50.
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