EURUSD: BUY 1.1520, SL 1.1465 , TP 1.1565 | 22 Abril 2025

EURUSD:

EUR/USD broke out of a multi-day trading range and hit a new high since February 2022 around 1.1485 during the Asian session on Monday.

Despite “aggressive” comments from Federal Reserve (Fed) Chairman Jerome Powell, uncertainty over US President Donald Trump's trade policy continues to undermine the dollar. Last Wednesday, Powell said the Fed would likely keep the benchmark interest rate unchanged and wait for more clarity before considering any policy adjustments. Meanwhile, Trump's retaliatory tariff announcements undermined investor confidence in U.S. economic growth and drove the dollar to a two-year low early in the new week.

The aforementioned factors largely offset the European Central Bank's (ECB) soft decision last week and served as a tailwind for EUR/USD. On Thursday, the ECB cut interest rates for the seventh time in a year and warned that economic growth would be hit hard by US tariffs, bolstering the case for further policy easing in the coming months.

Moving forward, traders this week will be focused on scheduled speeches by ECB President Christine Lagarde on Tuesday and a number of influential FOMC members this week. In addition, the market's focus will be on the release of flash PMI indices, which could provide new insights into the state of the global economy. This, in turn, may give some impetus to the US dollar and EUR/USD.

Trade recommendation: BUY 1.1520, SL 1.1465 , TP 1.1565.

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