EUR/USD stays below 1.0400 after Trump's tariff comments
The EUR/USD pair is currently facing strong selling pressure, trading around the 1.0380 level during the Asian session on Tuesday, after partially recovering from recent losses. The Euro continues to be negatively impacted by expectations of a dovish stance from the European Central Bank (ECB). The market expects the ECB to continue cutting interest rates by 25 basis points in upcoming policy meetings, due to concerns over the Eurozone's economic outlook and low inflation.
These expectations are further reinforced by the belief that inflation in the Eurozone will remain stable near the ECB's 2% target, while uncertainty surrounding US trade policies is increasing.
Technically, key support levels for EUR/USD are at 1.0260 and 1.0180, with a strong resistance level at 1.0410. If EUR/USD fails to hold above these support levels and breaks through them, the downtrend may continue, with the next target potentially being 1.0100.
Traders may consider selling if the pair continues to decline and fails to break the resistance level at 1.0410. A sell entry could be placed at 1.0400, with profit targets at 1.0260 and 1.0180. Be sure to set a reasonable stop loss (SL) at 1.0450 to protect the account in case of an unexpected market reversal.
In conclusion, with the combination of bearish fundamentals and technical signals, EUR/USD may continue its downtrend if it breaks the key support levels of 1.0260 and 1.0180. Traders should pay close attention to these levels for potential selling opportunities.
These expectations are further reinforced by the belief that inflation in the Eurozone will remain stable near the ECB's 2% target, while uncertainty surrounding US trade policies is increasing.
Technically, key support levels for EUR/USD are at 1.0260 and 1.0180, with a strong resistance level at 1.0410. If EUR/USD fails to hold above these support levels and breaks through them, the downtrend may continue, with the next target potentially being 1.0100.
Traders may consider selling if the pair continues to decline and fails to break the resistance level at 1.0410. A sell entry could be placed at 1.0400, with profit targets at 1.0260 and 1.0180. Be sure to set a reasonable stop loss (SL) at 1.0450 to protect the account in case of an unexpected market reversal.
In conclusion, with the combination of bearish fundamentals and technical signals, EUR/USD may continue its downtrend if it breaks the key support levels of 1.0260 and 1.0180. Traders should pay close attention to these levels for potential selling opportunities.
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