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The EURUSD stretched higher in the US session, but after reaching a high price of 1.1388, and getting within four pips of its 200-hour moving average, buyers turned to sellers and have pushed the price back lower.

The current price is trading at 1.13727 after reaching a post-high low price of 1.1364.

Yesterday, the price moved briefly above the 200-hour moving average on three separate hourly bars, but momentum died after extending above five or fewer pips above that MA. Momentum could not be sustained.

At session lows today, the price approached the lows from Wednesday (two lows) near 1.13072. The low today reached 1.1314 before finding buyers.

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This article was written by Greg Michalowski at www.forexlive.com.

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The week started off poorly with a 3% drop in US equity markets but there has been a rapid and powerful turnaround. The S&P 500 is on track for its fourth consecutive day of gains with a 0.3% rise today.

The index is at its session highs going into the weekend on hopes (expectations?) that Trump will soon announce some trade deals, or at least some MOUs on the way to deals.

So much remains unknown, including what tariffs levels that the US will set as a floor and what other countries might be willing to pledge. At the moment, there is talk of countries buying things like agricultural products but those prices are set globally and buyers are often private so it’s not clear how that could work.

Trump continues to remain focused on trade deficits and raising revenue via tariffs, which is a self-defeating strategy if the aim is bringing down barriers everywhere.

This article was written by Adam Button at www.forexlive.com.

EU Commissioner Dombrovski is on the wires saying:

• Had cordial and candid meeting with United States Treasury Secretary Scott Bessent
• Reiterates that the EU is going to reach a mutually agreeable solution with US on tariffs.
• He also emphasized the need for continued support for Ukraine

This article was written by Greg Michalowski at www.forexlive.com.

United Airlines and Delta Air Lines say international and premium travel is robust while domestic coach-class travel and some corporate travel has slowed.

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Pres. Trump says:

• Will Not drop China tariffs unless they give us something
• Opening up China would be a big win
• We will have deals for others. We will set the tariff
• I noted there would be a transition
• Iran sitution is coming out well. The deal is simple…they can’t have a nuclear weapon.
• People are starting to understand how good tariffs are (HMMMM)

The NASDAQ index moved from 17385 to 17299. The price is currently trading at 17326, up 159 points or 0.92%

This article was written by Greg Michalowski at www.forexlive.com.

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