EURUSD: SELL 1.0885, SL 1.0925, TP 1.0835 | 13 Marzo 2025

Event to pay attention to today:

14:30 EET. USD - Consumer Price Index

EURUSD:

EUR/USD reached the 1.0900 level, breaking a three-day winning streak. Renewed demand for the US dollar (USD) is undermining the major pair. Later on Wednesday, the US inflation data (Consumer Price Index) for February will take centre stage.

The US dollar is gaining momentum as US President Donald Trump's steel and aluminium tariffs take effect on Wednesday. The White House confirmed that new 25 per cent tariffs on all imported steel and aluminium will take effect on Wednesday, including against US allies and major suppliers Canada and Mexico.

In addition, rising bets that the European Central Bank (ECB) will cut interest rates two more times by summer could send the local currency lower against the U.S. dollar. Traders have already fully priced in the possibility of two more rate cuts amid strong confidence that Eurozone inflation will steadily return to the 2% target this year.

On the other hand, a likely slowdown in the US economy and trade policy uncertainty could put pressure on the dollar.

Trade recommendation: SELL 1.0885, SL 1.0925, TP 1.0835

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