EURUSD: SELL 1.1370, SL 1.400, TP 1.1290 | 29 Abril 2025

EURUSD:

The EUR/USD pair continues to weaken for the second consecutive session, trading near 1.1360 during Asian hours on Monday. The pair is under pressure as the US dollar (USD) strengthens amid signs of easing tensions between the US and China.

On Friday, China exempted some imported goods from the US from 125% tariffs, according to business sources. The move fueled hopes that the long-running trade war between the world's two largest economies may be coming to an end.

On Sunday, U.S. Agriculture Secretary Brooke Rollins said, as reported by Reuters, that the Trump administration was in daily talks with China over tariffs. Rollins emphasized that talks are ongoing and that trade agreements with other countries are also “very close.”

Despite these comments, Reuters on Friday quoted a Chinese embassy spokesman who strongly denied there were any talks with the United States, saying, “China and the United States are not engaged in any consultations or negotiations on tariffs.” The spokesman urged Washington to “stop creating confusion.” In addition, Beijing's spokesman reiterated Thursday that there are no “economic and trade negotiations” and emphasized that the U.S. should “fully lift all unilateral tariff measures” to pave the way for talks.

Trading recommendation: SELL 1.1370, SL 1.400, TP 1.1290

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