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Feb 02 - 10:55 PM

EUR/USD - Plunges On Trump Tariff News, Spikes To 1.0125

By Haruya Ida  —  Feb 02 - 08:39 PM

• EUR/USD plunged on weekend news of Trump tariffs, 1.0342 to 1.0125 EBS

• Following the spike down, markets has steadied a bit between 1.0208-70

• Trading still thin and on volatile side, fresh volatility into Europe?

• Higher US yields USD supportive, likely to help cap EUR, other currencies

• EUR/USD cap seen in place at descending 55-DMA at 1.0424 now

• Descending daily Ichimoku cloud above between 1.0457-1.0634

• Also descending hourly 55/100/200-HMAs 1.0378/99/1.0424, cloud 1.0413-22

• Option expiries today 1.0200 E590 mln, 1.0300-50 total E3.7 bln, a cap?

• Nothing specific on Europe tariffs, market waiting for hammer to drop

• Related comment (pre-tariff news) , also

• On Trump tariffs , for more click on [FXBUZ]

EUR/USD daily:


EUR/USD hourly:


EUR/USD nearby option expiries this week:


(Haruya Ida is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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