Fundamental Analysis

• The EURUSD pair is aiming higher, with attention on whether it can break out of its range.
• Reports indicate that the Trump administration is planning reciprocal tariffs starting in April, but they are not expected to be implemented immediately.

EURUSD Technical Analysis

Analyzing the EURUSD daily chart, the pair is currently encountering resistance at the 90-day moving average. However, it has broken above the Ichimoku cloud, suggesting potential further upside.
The RSI stands at 59, indicating a stable upward trend.

The market has found temporary relief in reports that reciprocal tariffs will not take effect immediately. Meanwhile, expectations for a full-scale start to Ukraine ceasefire negotiations are rising. If a ceasefire is achieved, it would be a positive factor for the Eurozone, potentially leading to economic recovery and post-war reconstruction, which could spur economic growth.

Key Level to Watch: Break Above 1.05 USD

Day trading strategy (1 hour)

Looking at the 1-hour EURUSD chart, the 52-period moving average is acting as support while the price continues to rise. The pair is expected to gradually climb, keeping key round numbers like 1.05 USD and 1.06 USD in focus. Breaking above the daily Ichimoku cloud is a significant development.

The strategy is to buy on dips. A buy limit order is placed near 1.04 USD (upper boundary of the daily cloud), with a target at 1.05 USD. The stop loss is set at 1.037 USD.

Support/Resistance lines

Key support and resistance lines to consider:

• 1.05 USD – Round number resistance
• 1.04 USD – Round number support / Upper boundary of the daily Ichimoku cloud

Market Sentiment

EURUSD: Sell: 48% / Buy: 52%

Today’s important economic indicators

*Trading advice in this article is not provided by Milton Markets, but by Shu Fujiyasu Jr., a certified technical analyst.