đź‘€Possible scenario:
The euro (EUR) dropped 0.32% on May 29, marking its third straight loss, after a U.S. court ruled Trump's reciprocal tariffs unlawful—beyond just the original plaintiffs. The decision, expected to be appealed, adds fresh uncertainty to U.S. trade policy and investor sentiment. Markets are also watching the U.S. Senate, where Trump’s tax and spending plan faces pushback. Meanwhile, the Fed’s latest minutes showed a cautious stance, citing inflation risks and possible rising unemployment—hinting at a delicate policy balance ahead.
Focus now shifts to key U.S. data due May 29 at 12:30 p.m. UTC—GDP and jobless claims. Strong numbers could delay Fed rate cuts, pushing EUR/USD below 1.1180. Weak data may lift the euro above 1.1300.
âś…Support and Resistance Levels
Now, the support level is located at 1.12265.
Resistance level is located at 1.14220.
The euro (EUR) dropped 0.32% on May 29, marking its third straight loss, after a U.S. court ruled Trump's reciprocal tariffs unlawful—beyond just the original plaintiffs. The decision, expected to be appealed, adds fresh uncertainty to U.S. trade policy and investor sentiment. Markets are also watching the U.S. Senate, where Trump’s tax and spending plan faces pushback. Meanwhile, the Fed’s latest minutes showed a cautious stance, citing inflation risks and possible rising unemployment—hinting at a delicate policy balance ahead.
Focus now shifts to key U.S. data due May 29 at 12:30 p.m. UTC—GDP and jobless claims. Strong numbers could delay Fed rate cuts, pushing EUR/USD below 1.1180. Weak data may lift the euro above 1.1300.
âś…Support and Resistance Levels
Now, the support level is located at 1.12265.
Resistance level is located at 1.14220.
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.
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.