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The euro and the pound are trading within sideways channels, but both currencies are experiencing increasing pressure. Today's key development is expected to arise from the announcement of trade tariffs by the United States, along with relevant details. There are no significant economic data releases from the eurozone or the UK today.
Yesterday's data showing a slowdown in price growth in the eurozone failed to support the euro since easing inflation gives the European Central Bank room to continue cutting interest rates. The market seems to be pricing in more complex factors than just current inflation figures. Traders will seek additional signals from the ECB regarding the future trajectory of interest rates, paying special attention to how the ECB evaluates the influence of geopolitical tensions from tariffs and the energy crisis on the regional economy.
As mentioned above, there are no eurozone releases in the first half of the day, so trading will likely remain subdued. Traders will likely await news from the U.S., where labor market data is expected. These figures could significantly influence the Federal Reserve's decisions on monetary policy going forward. The focus will also shift toward trade tariffs, which are raising concerns over slowing global growth and prompting market participants to remain cautious and avoid risky assets.
If the information about tariffs matches economist expectations, the Mean Reversion strategy is preferable. If the data turns out significantly above or below expectations, the Momentum strategy would be more appropriate.
Buy on a breakout above 1.0813, targeting 1.0850 and 1.0884
Sell on a breakout below 1.0780, targeting 1.0757 and 1.0730
Buy on a breakout above 1.2939, targeting 1.2970 and 1.2988
Sell on a breakout below 1.2903, targeting 1.2868 and 1.2838
Buy on a breakout above 149.95, targeting 150.20 and 150.50
Sell on a breakout below 149.62, targeting 149.30 and 148.97
Look to sell after a failed breakout above 1.0809 with a return below that level
Look to buy after a failed breakout below 1.0785 with a return back above that level
Look to sell after a failed breakout above 1.2934 with a return below
Look to buy after a failed breakout below 1.2899 with a return back above
Look to sell after a failed breakout above 0.6318 with a return below
Look to buy after a failed breakout below 0.6267 with a return back above
Look to sell after a failed breakout above 1.4313 with a return below
Look to buy after a failed breakout below 1.4263 with a return back above
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