EUR/USD Trend Today - Downtrend?EUR/USD news:
🔆The EUR/USD pair continues its downward trend for the third consecutive day, trading around 1.0390 during the Asian session on Friday. The Euro faces selling pressure due to increased risk aversion, driven by escalating trade tensions between the US and the EU. US President Donald Trump signaled the possibility of imposing “reciprocal” tariffs on the EU as soon as April.
🔆In response, a European Commission (EC) spokesperson stated that the EU would respond decisively and immediately to any unjustified trade barriers. This ongoing uncertainty may further weaken the Euro, adding to the bearish sentiment surrounding the EUR/USD pair.
🔆Meanwhile, the US Dollar Index (DXY), which tracks the performance of the USD against six major currencies, gained strength following the release of US GDP data on Thursday. At the time of writing, the DXY remains near 107.40.
Personal opinion:
🔆EUR/USD will continue to maintain a downtrend in the coming days due to the negative news still affecting. But there will be an increase to retest the resistance zone and then follow the downtrend
Analysis:
🔆Based on important resistance - support levels and Fibonacci combined with the SMA200 line to come up with a suitable strategy
Plan:
🔆 Price Zone Setup:
👉Sell EUR/USD 1.0420 – 1.0430
❌SL: 1.0460 | ✅TP: 1.0380– 1.0340 – 1.0300
FM wishes you a successful trading day 💰💰💰
