EURUSD Surges as President Trump Delays Tariffs on Inauguration Day【January 21, 2025】
Fundamental Analysis
President Trump assumes office as the 47th U.S. President, advocating “America First” policies.
A series of executive orders are announced, but tariffs are postponed.
EURUSD Technical Analysis
Analyzing the daily EURUSD chart, the pair is surging upward. It is approaching a descending trendline, and attention is on whether it will break above.
President Trump’s key tariff policy was not implemented on his first day in office, leading to a buying spree for EUR. Resistance remains at the long-term GMMA and Ichimoku cloud, which could push prices back down.
RSI has moved above 50, suggesting a shift to an upward trend. Watch for the lagging span to potentially break above the candlesticks.
Day trading strategy (1 hour)
The 1-hour EURUSD chart shows a surge with the upper edge of the Ichimoku cloud serving as support. With no tariff announcements, there appears to be a short squeeze in EURUSD as traders cover previous shorts. As President Trump begins his term, many executive orders are expected to follow.
Although day trading is challenging, short-term buying might be an option. Consider buying on dips if RSI reaches 50. Monitor closely for updates on President Trump’s future actions.
Support/Resistance lines
Key support and resistance lines to consider:
- 1.04 USD: Psychological round number
Market Sentiment
EURUSD Sell: 51% Buy: 49%
Today’s important economic indicators
Economic Indicators and EventsJapan TimeUK Employment Statistics16:00German ZEW Economic Sentiment19:00Canada Core CPI22:30
*Trading advice in this article is not provided by Milton Markets, but by Shu Fujiyasu Jr., a certified technical analyst.
Risk Disclaimer
This analysis is for educational purposes only and does not constitute investment advice. Trading forex and CFDs involves significant risk and may not be suitable for all investors. Past performance is not indicative of future results.
This analysis is for educational purposes only and does not constitute investment advice. Trading forex and CFDs involves significant risk and may not be suitable for all investors. Past performance is not indicative of future results.
