While Trump has pushed the envelope on tariffs for China, Canada and Mexico, it seems more are lurking for Europe and the pair responded in a bearish way to start the week, making a fast run at the 1.0200 handle.
That's a big spot, as looked at in these posts a couple weeks ago, and it's so far held the lows for 2025 after coming into play briefly on the 13th of January.
The rally from that ran all the way into last week's open, with Monday printing a doji, followed by a sell-off on Tuesday that confirmed an evening star formation, and that led into another pattern of red days.
At this point the pair seems vulnerable and the way that hits could be chaotic as it's essentially waiting for Trump to comment on the matter. For resistance, the 1.0333-1.0343 zone has already been in-play this morning and above that is the Fibonacci level at 1.0406. - js
Longer-term, it's the 1.0500-1.0611 zone that bulls will need to take out to exhibit control of the pair. - js
That's a big spot, as looked at in these posts a couple weeks ago, and it's so far held the lows for 2025 after coming into play briefly on the 13th of January.
The rally from that ran all the way into last week's open, with Monday printing a doji, followed by a sell-off on Tuesday that confirmed an evening star formation, and that led into another pattern of red days.
At this point the pair seems vulnerable and the way that hits could be chaotic as it's essentially waiting for Trump to comment on the matter. For resistance, the 1.0333-1.0343 zone has already been in-play this morning and above that is the Fibonacci level at 1.0406. - js
Longer-term, it's the 1.0500-1.0611 zone that bulls will need to take out to exhibit control of the pair. - js
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.