At the beginning of the week, the euro fell to 1.0211 because of concerns that the Trump administration might impose tariffs on the EU, along with Mexico and Canada. Later, during New York trading hours, news that the Mexico tariff would be delayed for one month helped the euro rise to 1.0335. Some people believe that tariffs on the EU could also be avoided through discussions, but the U.S. is expected to have the upper hand in trade negotiations.
The euro dropped again but found support at the lower limit of the Bollinger Bands and rebounded. However, differences in monetary policies between the European Central Bank (ECB) and the Federal Reserve (FRB) may cause more selling. If euro buying slows down, the euro may fall again.
EUR/USD Expected Range: 1.0370 – 1.0270
Please note: The above information does not guarantee any profit. Please make your own decisions when trading.