Hi all!
Considering the situation with EURUSD, first of all I would like to note the sharp dollar index collapse after the statement of US President Donald Trump about the introduction of tough and high tariffs for a large number of countries of the world, which may be a consequence of the start of global trade wars.
If trade wars continue to escalate, this may lead to a decrease in confidence in the US economy. As a result, investors may start looking for safer assets. This may further weaken the dollar in the long term.
At the moment, in connection with these events, the EURUSD pair has risen sharply due to the fall of the dollar, reaching 1.1145. When analyzing the H1 timeframe, it is clear that the price is trapped inside a triangle, the exit from which up or down can determine the further behavior of the price - that is, whether there will be a rollback down with this upward trend or the price will continue its upward movement.
