The EURUSD pair is hovering around 1.1387 on Tuesday. Risks of a US trade war weigh against the US dollar. Find out more in our analysis for 29 April 2025.
EURUSD forecast: key trading points
- The EURUSD pair is poised to resume growth due to US trade risks
- China states it is not holding talks with the US, despite Washington’s claims
- Market risks are taking centre stage again
- EURUSD forecast for 29 April 2025: 1.1427 and 1.1442
Fundamental analysis
The EURUSD rate is holding near 1.1387. The currency market is poised to return to buying as external uncertainty surrounding US-China trade relations intensifies. Yesterday, China reiterated that it is not currently engaged in negotiations with Washington.
Meanwhile, US Treasury Secretary Scott Bessent said that easing tensions depends on China, emphasising that Chinese exports to the US significantly exceed imports.
The market is now focused on upcoming US economic data due later this week. On Wednesday, the first estimate of Q1 2025 GDP will be released alongside the crucial core PCE inflation component – a key metric for the Federal Reserve. On Friday, labour market data for April will be published. These figures will provide investors with numerous signals for evaluating the prospects of the Fed’s monetary policy.
Should the data point to weakening economic indicators, expectations for an imminent monetary easing by the Federal Reserve would rise.
The EURUSD forecast is favourable.
On the H4 chart, the EURUSD pair is setting up for an advance towards 1.1427, from where it could climb to 1.1442.
On the higher timeframe, the target is to retest the 1.1572 level, although this is unlikely to happen immediately.
Summary
The EURUSD pair remains in a consolidation phase on Tuesday but is clearly gearing up for an upward move. The forecast for today, 29 April 2025, expects a bullish wave to develop towards 1.1427 and then extend to 1.1442.
Source: Roboforex
