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.
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