Early in Tokyo trading, there was news that the U.S. offered the EU a 10% tariff deal with conditions. This made people buy the euro, and the price went up to 1.1765 in the European market.
However, after that, U.S. long-term interest rates went up, so the euro fell to 1.1683, which was lower than the Tokyo session low. But because people believe the EU and U.S. are close to an agreement on tariffs, the euro went back up to around 1.17 by the end of the day.
The progress in the talks is helping the euro rise, but at the same time, people are still selling the dollar.
Still, when the euro gets too high, people who bought it earlier might sell it to take profits. So, selling on rebounds is one possible strategy.
EUR/USD Expected Price Range: 1.1650 – 1.1750
Note: This information does not guarantee profits. Please make your own decisions when trading.