EURUSD: BUY 1.1360, SL 1.1320, TP 1.1420 | 03 Junio 2025

An event to watch out for today:

17:00 EET. USD - ISM Manufacturing Index

EURUSD:

EUR/USD is recovering its recent losses recorded during the previous session, trading around 1.1370 on Monday during Asian hours. The pair is strengthening amid a weakening US dollar (USD) after the US Court of Appeals ruled on Thursday to allow US President Donald Trump's tariffs to take effect.

On Wednesday, a panel of three judges at the International Trade Court in Manhattan said Trump had exceeded his authority by imposing broad import tariffs and ruled the orders issued on April 2 illegal.

On Friday, President Trump said at a rally in Pennsylvania that he plans to double import tariffs on steel and aluminum to increase pressure on global steel producers and escalate the trade war. “We are going to impose a 25 percent increase. We are going to raise tariffs on steel imported into the United States from 25 percent to 50 percent, which will further strengthen the steel industry in the United States,” he said, according to Reuters.

On Saturday, the European Commission (EC) warned that Europe is ready to respond to President Trump's plan to double tariffs on imported steel and aluminum, which would escalate the trade war between the world's two largest economic powers.

Trading recommendation: BUY 1.1360, SL 1.1320, TP 1.1420

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