- EUR / USD Analysis Analysis shows that the recensity of dollars is.
- Trump has announced a new 100% tariff on movies manufactured outside the US.
- Data on Monday showed further expansion in the American services sector.
EUR / USD analysis indicates that the renovated strength of the euros as American tariff uncertainty strives on the dollar. It became clear that Trump does not want to give up his tariff campaigns. At the same time, market participants remain outside the market, which is a crucial meeting of FOMC.
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Trump announced a new 100% tariff on the week on movies manufactured outside the US, pausing recent $ retaliation. Initially, the demand for the American currency has increased in the midst of hope in the facilitation of trade tensions. Trump announced to be trafficked by Japan, India and South Korea. Moreover, the American president said there was hope for a deal with China in the near future. As a result, appetite has increased and reliable confidence in investors.
However, at the beginning of the week, insecurity was created when Trump returned to his aggressive tariff moves. This paused a rally of dollars, allowing euros to climb on Tuesday. However, the move bribed after recent economic data revealed an elastic American economy. Data on Monday showed further expansion in the service sector because business activity has improved more than expected.
Meanwhile, the employment numbers on Friday were positive. As a result, they facilitated expectations from reducing the flown feet. However, policy makers can hint in the future during the meeting this week.
EUR / USD Key events Today
- Federal Function Rate
- Fomc statement
- FOMC Press Conference
EUR / USD Technical price Analysis: The bulls are targeting 1,1550 resistance
On the technical side, EUR / USD price will be discontinued from the utter weighted roleway near the level of support from 1,1301. The bulls are challenging a 30-SMA and a line of resistance to the wedge. At the same time, RSI cut over 50 years, indicating a stronger momentum.
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Initially the price was in a solid state, respecting 30 SMA as support. At the same time, it became more high and lower. However, this stopped after the bulls did not break above the level of resilience to 1.1550.
The bears appeared at this level and pushed the price below SMA, indicating a change of feelings. The next step of the bear was to start making lower high and lower. However, the support of 1,1301 held a company. Therefore, the pause above SMA and wedge resistance will allow EUR / USD to reset level 1,1550.
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