Yesterday, EUR/USD rose to 1.0829 twice in the Tokyo and European markets but dropped to 1.0779 after news that the U.S. might impose 20% tariffs on most imported goods. Later, it rose above 1.08 again after U.S. economic data was released, but it struggled to go higher.
The details of today’s tariff announcement could have a big impact. If it leads to more trade conflict, it could be bad for the euro. However, if the tariffs are less strict than expected, the euro may rise.
Overall, the market is likely to be very volatile today, and EUR/USD could move in both directions.
EUR/USD Expected Range: 1.0870 – 1.0730
Note: The above information does not guarantee profit. Please make your own decisions when trading.