EURUSD: SELL 1.0480, SL 1.0535, TP 1.0410 | 17 February 2025

EURUSD:

The EUR/USD exchange rate has experienced a four-day winning streak, currently trading at around 1.0490 during Asian hours.Liquidity in the North American session is expected to remain low, as all major US financial markets will be closed on Monday for the Presidents Day federal holiday.The EUR/USD exchange rate has recently strengthened due to delays in the implementation of US President Donald Trump's retaliatory tariffs, which are taking longer than analysts expected. Disappointing economic data from the US has also put pressure on the US Dollar (USD), providing further support to the EUR/USD pair.A weaker-than-expected US retail sales report has reignited speculation that the Federal Reserve (Fed) may cut interest rates this year, despite lingering concerns over inflation.

On Friday, data from the US Census Bureau revealed a 0.9% decrease in US retail sales in January, following a revised 0.7% increase in December (previously reported at 0.4%). This decline exceeded the 0.1% drop that had been anticipated by the market.Meanwhile, a note from JP Morgan suggests that a 5% rise in the EUR/USD exchange rate could occur if a ceasefire agreement is reached in Ukraine and gas supplies resume. According to reports, President Trump and Russian President Vladimir Putin have agreed to initiate talks on ending the conflict, with sources cited by the BBC indicating that Trump administration officials are set to meet with their Russian counterparts in Saudi Arabia on Tuesday to discuss a potential peace deal.

Trading recommendation: EURUSD: SELL 1.0480, SL 1.0535, TP 1.0410

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