EURUSD: SELL 1.1265, SL 1.1365, TP 1.1065 | 29 May 2025

Event to pay attention to today:

21:00 EET. USD - FOMC Meeting Minutes

EURUSD:

The EUR/USD pair retreated below 1.1400 for the second consecutive day, helped by a recovery in the US Dollar (USD) following the release of a positive consumer confidence report.

Risk appetite increased as market participants digested the news that US President Donald Trump said that trade talks between the United States (US) and the European Union (EU) have gained momentum following his threats to impose 50 percent tariffs last Friday. Although he backtracked on his words, allowing some room for negotiations, it remains to be seen if the two sides will reach an agreement before July 9.

The convincing US consumer confidence data for May released by the Conference Board (CB) put pressure on EUR/USD. The US Dollar Index (DXY), which tracks the value of the US currency against the other six currencies, rose more than 0.62% to 99.54.

The ECB's Gediminas Simkus said he sees scope for an “interest rate cut in June”. Robert Holzmann, a member of Austria's central bank and a member of the ECB, told the Financial Times (FT) that he sees no reason to cut rates at the June and July policy meetings.

Trade recommendation: SELL 1.1265, SL 1.1365, TP 1.1065

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