EURUSD spikes higher with the price extending above the 100 hour MA ...Middle East

According to sources, the EU aims to secure partial removal of existing U.S. tariffs, which have already hurt EU exports and are set to rise further after April 2. During meetings in Washington, EU officials were told that new auto and reciprocal tariffs are imminent. In response, the European Commission has begun drafting a “term sheet” for a potential deal, which includes negotiating tariff reductions, encouraging mutual investments, and easing regulatory standards. The U.S. tariffs target both tariffs and non-tariff barriers, such as tax policies and digital regulations, which the Trump administration views as unfair trade practices.

Key upside targets now include:

1.08322: 200-hour moving average, which the price fell below on March 20

For the week, the price also bounced off the key 200-day MA and the 38.2% retracement. That was a key, key hold for the buyers and shifted the sellers to buyers.

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

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