Now it’s an EU trade war Trump wants
Donald Trump has threatened to impose 25% tariffs on the European Union, bizarrely stating that the 27-member bloc was “formed to screw the United States.”
Without providing further details, he hinted at targeting carmakers, saying, “We have made a decision and we’ll be announcing it very soon.” The EU has vowed to retaliate immediately if the tariffs take effect.
EUR/USD tested resistance around 1.0536 before sellers stepped in around the time of Trump's announcement. The pair remains under pressure, trading below the 50-day EMA, while the 200-day EMA is flattening, offering a potential target besides the 38 and 50% Fibonacci levels on the chart.
Without providing further details, he hinted at targeting carmakers, saying, “We have made a decision and we’ll be announcing it very soon.” The EU has vowed to retaliate immediately if the tariffs take effect.
EUR/USD tested resistance around 1.0536 before sellers stepped in around the time of Trump's announcement. The pair remains under pressure, trading below the 50-day EMA, while the 200-day EMA is flattening, offering a potential target besides the 38 and 50% Fibonacci levels on the chart.
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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.