- Outlook EUR / USD suggests further weakness for the dollar.
- The dollar crashed as Trump continued by attacking Powell.
- Merchants expect American and Eurozone PMI figures, due to Wednesday.
Outlook EUR / USD suggests a further dollar weakness while Trump continues his criticism of food president Powell. As a result, the euro holds the company because investors lose confidence in the stability of the American economy. Meanwhile, market participants await the release of crucial PMI data.
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The euro remained stable on Tuesday, following new heights reached in the previous session in the middle of the weakness of the dollar. The dollar crashed after Trump attacked to attack Powell, calling him a loser. The American president fed to feed to reduce lending costs and supports the economy.
Trump is now growing worried about the state of economics after its aggressive tariff moves. However, Powell remained calm in the middle of the tariff. The chairman of the fed chair maintained that he did not rush lower interest.
Kimodori setting is waiting to see if tariffs heated inflation before reducing borrowing costs. The attack on the Fed Chair was threatening the independence of the Central Bank. At the same time, investors lose confidence in the stability of American markets. Consequently, most are switched to other economies, such as the eurozone.
Otherwise, American and Eurozone PMI figures, due to Wednesday, will point to both economies, which will affect the EUR / USD price.
EUR / USD Key events Today
The market participants do not expect key economic editions from the eurozone or the United States. Therefore, a couple could consolidate.
EUR / USD Technical view: Usttrendnnd pauses to reset level 1,1502
On the technical side, the price of EUR / USD has drifted back to reset recently broken key 1.1502 level as support. The price recently reached the new high, further strengthening of bicocracy. Moreover, the price trades far above the 30th, and the RSI is over 50, showing that the bulls are still in lead.
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If the 1.1502 level holds the company as support, the price will bounce more for the new high. Such an outcome would allow EUR / USD to reach 1,1602 key levels. However, if the price breaks below the level of support can fall for the re-score of 30ths.
If it keeps the company, the bulls will return to seek new Highs. On the other hand, the break below the SMA would signal the shift in feeling, allowing bears to reach the level of support from 1,1302.
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