- EUR / USD Analysis Price Reveals Growing Insecurity Related to Charges for Tariffs on Evrozone Loads.
- Data on previous sessions revealed unexpected power in the American labor market.
- Participants in the market are looking at a deadline of 9. July.
EUR / USD Analysis Price reveals growing insecurity in response to tariffs in Robi eurozone as well as approaches. Progress in conversations between the United States and the eurozone is slow, giving any agreement. Meanwhile, the dollar is strengthened after the data revealed the labor market resistance.
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The eurozone is under pressure to obtain a trade agreement before the deadline. July. If not, the United States will impose high tariffs on the Europeangine goods that could harm the economy. Such an outcome would be a bear for the euro. Therefore, market participants could remain careful in taking great positions in euros.
Meanwhile, the dollar held the company after data on the previous session revealed unexpected strength in the labor market. The sector added 147,000 jobs in June, beating forecasts of 111,000. At the same time, the unemployment rate was 4.1%, which was below estimated 4.3%. The positive report facilitated the pressure on the FED to lower lending costs.
However, tariff uncertainty has injured the mood of how the market observes the deadline. July. Larger tariffs can escalate trade tensions, further injuries the dollar.
EUR / USD Key events Today
Today, market participants do not expect key economic editions. The US vacation is likely to trade skinny.
EUR / USD Technical price analysis: Bulls and bear battle for control at 30-SMA
On the technical side, EUR / USD price recovers after a sharp drop that broke the 30 SMA support line. That move came after the RSI made a divergence, which indicates that he was a pale momentum. The bulls weakened when the price reached the level of resilience at 1,1800.
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As a result, the bears made a large candle that broke down the 30ths. However, it was not enough to keep the price below. The bulls are still struggling to return to the price in order to restart the level of resilience at 1,1800. If it again holds the firm, the price is likely to return below SMA. Such a move would allow EUR / USD to target 1,1600 support level.
On the other hand, if the price breaks over 1,1800 resistance, it will form a higher high, confirming the continuation of the bikal trend.
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