Trade talks between the U.S. and Europe are having difficulties.
This week, important economic data like CPI and GDP from Germany and the EU will be announced.
If the results are weak, people may expect the European Central Bank to cut interest rates sooner, which could push the euro lower.
However, because there is still some selling pressure on the U.S. dollar due to President Trump’s changing comments and pressure on the Federal Reserve, the euro’s fall may not be very big.
This week, the European market will be closed for May Day, so there will be fewer traders.
Prices may move slowly, but if something unexpected happens, the market could move strongly in one direction.
For now, because Trump said he will not remove Federal Reserve Chairman Powell, trust in the U.S. economy is not getting worse.
Because of this, there may be stronger pressure for the euro to fall.
Expected Euro/Dollar Trading Range: 1.1150-1.1500
Note: The above is not a guarantee of profits. Please make your own decisions when trading.