EURUSD: BUY 1.1375, SL 1.1350, TP 1.1430 | 28 May 2025

Event to watch out for today:

17:00 EET. USD - Consumer Confidence Indicator

EURUSD:

EUR/USD is trading in positive territory near 1.1385 during Asian trading on Tuesday. The euro (EUR) rose to its highest since late April against the U.S. dollar (USD) after U.S. President Donald Trump delayed the imposition of 50 percent tariffs on Europe. Later on Tuesday, the Conference Board's US consumer confidence index for May will be released.

Reuters reported on Sunday that Trump announced his decision to delay the imposition of EU tariffs until July 9 after speaking with European Commission President Ursula von der Leyen. The development brought some relief to markets and provided support for the common currency against the U.S. dollar.

“After Trump's latest reversal, we will of course have to wait and see what happens next. It is possible that a deal with the European Union will be reached by July 9,” said Commerzbank currency strategist Michael Pfister.

Trump has proclaimed a “Big, Beautiful Bill” that is estimated to add about $3.8 trillion to the federal government's $36.2 trillion debt over the next decade. This adds to concerns about the growing U.S. government deficit and continues to undermine sentiment towards U.S. assets, including the U.S. dollar.

Trading recommendation: SELL 1.1380, SL 1.1410, TP 1.1300

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