EUR/USD is trading lower near 1.0900 in early European trading on Tuesday. Escalating tensions in the Middle East and the ongoing EU-US tariff conflict are boosting the US Dollar, exerting pressure on the pair. Meanwhile, Euro buyers remain cautious ahead of Germany’s vote on fiscal spending plans.
Despite the current pullback, the broader technical outlook remains bullish, supported by the alignment of the EMA 34 and EMA 89, as well as the harmonic pattern observed on the chart. Persistent concerns over global trade continue to play a key role in extending the pair’s long-term upside potential.
Additionally, any shift in the Russia-Ukraine situation could quickly reshape market sentiment, keeping traders focused on geopolitical headlines and economic data. This could provide further support for EUR/USD, allowing it to stabilize and push higher.
Despite the current pullback, the broader technical outlook remains bullish, supported by the alignment of the EMA 34 and EMA 89, as well as the harmonic pattern observed on the chart. Persistent concerns over global trade continue to play a key role in extending the pair’s long-term upside potential.
Additionally, any shift in the Russia-Ukraine situation could quickly reshape market sentiment, keeping traders focused on geopolitical headlines and economic data. This could provide further support for EUR/USD, allowing it to stabilize and push higher.
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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.