Bearish outlook remains intact near 1.0300
The EUR/USD pair continues to extend its decline, reaching around 1.0305 in the early European session on Tuesday. The U.S. dollar strengthened after U.S. President Donald Trump announced a significant increase in tariffs on steel and aluminum imports and stated that he would unveil reciprocal tariffs against other countries in the coming days.
From a technical perspective, the bearish outlook for EUR/USD remains intact, with two key resistance levels at 1.0396 and 1.0329. While the pair is encountering resistance at the 1.0329 level, breaking through this level does not necessarily indicate a strong upward movement, as the pair still faces the previous resistance at 1.0396. If the downtrend continues, the pair could potentially decline towards the 1.0210-1.0200 range.
Recommendation: Given the current bearish outlook and strong resistance levels above, entering a **sell** position around the 1.0329 or 1.0396 levels could offer a profitable opportunity. However, be cautious of fundamental factors that could change rapidly, especially any announcements from the U.S. government regarding tariffs.
From a technical perspective, the bearish outlook for EUR/USD remains intact, with two key resistance levels at 1.0396 and 1.0329. While the pair is encountering resistance at the 1.0329 level, breaking through this level does not necessarily indicate a strong upward movement, as the pair still faces the previous resistance at 1.0396. If the downtrend continues, the pair could potentially decline towards the 1.0210-1.0200 range.
Recommendation: Given the current bearish outlook and strong resistance levels above, entering a **sell** position around the 1.0329 or 1.0396 levels could offer a profitable opportunity. However, be cautious of fundamental factors that could change rapidly, especially any announcements from the U.S. government regarding tariffs.
Related publications
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.