Forex Traders Focus on Trump’s Tariff NewsForex Traders Focus on Trump’s Tariff News
As April 2 approaches—the date when Trump's international trade tariffs are set to take effect—traders are increasingly concentrating on this highly uncertain issue.
Yesterday, the U.S. president stated that:
→ Tariffs on cars would be introduced "soon" (but not all possible tariffs would be imposed);
→ Some countries might receive exemptions;
→ Nations purchasing oil from Venezuela could face 25% tariffs.
Following these remarks:
→ Oil prices rose;
→ U.S. stocks gained as Wall Street (according to Reuters) interpreted the comments as a sign of flexibility in trade negotiations.
Given this backdrop, the EUR/CAD chart is particularly interesting, as both Europe and Canada frequently feature in news related to the White House's trade policies.
EUR/CAD Exchange Rate Today
As seen on the EUR/CAD chart, the pair has slightly declined at the start of the week, dipping towards 1.54450. However, market volatility remains high:
→ The pair has gained approximately 2.85% since early March;
→ The decline from March’s peak is around 2.6%.
Technical Analysis of EUR/CAD
The pair’s volatile price swings have formed a trend channel (marked in blue).
Notably, the 1.57750 level has shifted from support to resistance, signalling bearish dominance. This is further reflected in the price movement within the red channel. If bears maintain control, EUR/CAD may drop towards a support zone, which includes:
→ The median of the blue channel;
→ The 1.54000 support level, drawn from early March’s local low.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Forexanalayis
GoldViewFX - WEEKLY CHART UPDATEHey Everyone,
Please see our updated weekly chart, which we have been tracking and trading over the last few months playing out perfectly range to range.
Price is now sitting below the axis trendline and also a new Goldturn has formed below the axis trendline making this chart Bearish. We already saw price head towards the retracement range last week with room still left for more.
We are at the top end of the range here and will be managing our exposure to market effectively, as swings are expected. This is why its important to buy dips when chasing the bull so high up in the range, while riding this trend. The key to riding a full bull trend is from dips and bearish trend from spikes to avoid being chopped up by the market.
We will use our multi timeframe analysis to navigate the range up and down and pick our sweet entries and exits in between.
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
GoldViewFX - 4H CHART MARKET UPDATEHey Everyone,
We have updated the 4H chart with weighted Goldturns and TARGETS and a Goldturn trendline support to identify the potential swing.
We have candle body close above 1843 opening 1862, as a target. Ema5 cross and lock will make this target stronger. Failure to cross this and a new Goldturn below this level will see price retrace back for the updated swing range.
BULLISH TARGETS
1862
BEARISH TARGETS
1843
SWING RANGE
1826
As always we will keep you all updated with any changes to this setup. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
USD/CHF is breaking out from a range!USDCHF is breaking out from a range of 0.90500 to 0.92000 in which the price has been for a while and found bottom in this range.
Currently the price is in bullish flag headed towards 0.92500 level.
Either buy the breakout or buy at 0.92000 area.
Good luck with this trade!
Tibor