- The euro recovered from the minimum of Friday, but remains limited below 0.8400,
- A pause in US tariffs on EU products has provided some euro support.
- The general trend of the EUR/GBP remains bassist, with the support in 0.8325 at stake.
The euro rose from the minimum of almost two months reached on Friday, but still unable to register a significant recovery despite the encouraging news about US tariffs. The torque is struggling to return above the level of 0.8400, which keeps the general bearish trend intact.
The president of the United States, Donald Trump, reassured investors during the weekend, announcing a pause in his plans to impose 50% tariffs on all EU imports. Trump said, after a “very good call” with the president of the European Commission, Ursula von der Leyen, they decided to pause the tariffs until July 9, in order to reach a good agreement.
The markets are closed in the United Kingdom for the spring holiday, and it is likely that negotiation volumes are somewhat lighter. In Europe, the main approach will be in the discourse of the BCE president, Christine Lagarde, which could provide more information about the Bank’s monetary policy plans.
The euro is in downward trend, with the support at 0.8325 in the focus of the bassists
From a technical point of view, the euro is in a clear downward trend, registering lower maximum and minimum, without clear signs of a trend reversion so far.
The pair confirmed a bear and shoulder bearish pattern, breaking the level of 0.8530 in April, and has spread below the fibonacci setback of 78.6%, in 0.8400, which now acts as resistance.
The failure to return above 0.8400-0.8420 would increase the pressure towards the area of ​​0.8325, which is the minimum of the end of March-April and the measured objective of the aforementioned pattern of H&S.
On the positive side, above 0.8400, the objectives are 0.8465 and 0.8530.
4 -hour graph of the EUR/GBP
Euro price today
The lower table shows the percentage of euro change (EUR) compared to the main currencies today. Euro was the strongest currency in front of the Japanese yen.
| EUR | USD | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| EUR | 0.39% | 0.00% | 0.59% | 0.09% | -0.14% | -0.26% | 0.29% | |
| USD | -0.39% | -0.38% | 0.16% | -0.29% | -0.51% | -0.64% | -0.10% | |
| GBP | -0.01% | 0.38% | 0.25% | 0.08% | -0.15% | -0.27% | 0.30% | |
| JPY | -0.59% | -0.16% | -0.25% | -0.44% | -0.68% | -0.86% | -0.26% | |
| CAD | -0.09% | 0.29% | -0.08% | 0.44% | -0.21% | -0.35% | 0.21% | |
| Aud | 0.14% | 0.51% | 0.15% | 0.68% | 0.21% | -0.16% | 0.44% | |
| NZD | 0.26% | 0.64% | 0.27% | 0.86% | 0.35% | 0.16% | 0.57% | |
| CHF | -0.29% | 0.10% | -0.30% | 0.26% | -0.21% | -0.44% | -0.57% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the euro of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the EUR (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
