EUR/USD wobbles ahead of US NFP report
EUR/USD is currently stable around the 1.0400 level, but the outlook for the Euro (EUR) remains uncertain due to concerns that the Eurozone may face losses from higher tariffs imposed by U.S. President Donald Trump. Last weekend, President Trump warned that Europe would certainly face tariffs for not buying enough U.S. goods, although he did not provide many details.
From a technical perspective, the EUR/USD pair could face downward pressure in the short term. The support level at 1.0228 is preventing the pair from dropping further, while the resistance at 1.0418 is the main reason for the temporary decline.
To manage risk, you may set a **Stop Loss (SL)** at 1.0450, just above the resistance level to protect against further upward movement. **Take Profit (TP)** can be set at the support level of 1.0228, where the pair may find stability and potentially recover. However, these levels can be adjusted based on your strategy and trading time frame.
From a technical perspective, the EUR/USD pair could face downward pressure in the short term. The support level at 1.0228 is preventing the pair from dropping further, while the resistance at 1.0418 is the main reason for the temporary decline.
To manage risk, you may set a **Stop Loss (SL)** at 1.0450, just above the resistance level to protect against further upward movement. **Take Profit (TP)** can be set at the support level of 1.0228, where the pair may find stability and potentially recover. However, these levels can be adjusted based on your strategy and trading time frame.
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