EURUSD sell on EURGBP sell order gave a buying opportunity treating it as a correction … I have discussed this many times… contact me if you want more info
Reaction to news is what matters… EURUSD reacting to German defense spending need
1.05650 represents a minor resistance level now, and more interesting is 1.06050.
One possibility is that this whole situation ends up as a big SHS pattern.
In my own opinion, we are already on the road to 1.09, but as I said yesterday – lots of fundamentals are in the cards and before it all passes we should take it one day at the time.
China imposes retaliatory tariffs, US futures modestly lower and USD hit ahead of Trump’s State of Union Address
Good morning USA traders, hope your day is off to a great start!
Here are the top 5 things you need to know for today’s market.
5 Things You Need to Know
Canada said it will impose retaliatory tariffs on US imports from Tuesday. China announced additional tariffs of up to 15% on some US goods from March 10th.
European bourses hit as the region reacts to the latest Trump tariffs; US futures modestly lower.
USD remains on the backfoot, EUR digests defence spending pledges, havens firmer.
Bonds bolstered by growth concerns and tariff updates despite pressure from block trades & EU spending.
New plans from the European Union to increase defense spending could potentially mobilize as much as 800 billion euros ($841 billion), European Commission President Ursula von der Leyen said Tuesday.
“Europe is ready to massively boost its defense spending,” she said in a statement.
The plan will include 150 billion euros of new joint EU borrowing for member states to invest in defense.