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EUR/USD — Tariff Shock Weakens Dollar

Key Highlights

• Trump announces tariffs on eight European nations
• EU prepares €93bn retaliatory tariff package
• Dollar weakens on trade-war growth concerns
• Focus turns to EU emergency summit Thursday

Market Overview

EUR/USD pushes higher as markets digest escalating US–Europe trade tensions. Trump’s tariff announcement targeting major European economies has shifted sentiment against the Dollar, with investors pricing in growth risks and potential inflation distortions from trade barriers. Coordinated EU retaliation has reinforced Euro resilience.

Technical Outlook (H4)

• Stochastic consolidating in overbought territory
• Price holding above 20-period EMA
• Bullish momentum remains intact

Key Levels

Resistance: 1.1720; 1.1767
Support: 1.1627; 1.1580

Fremora Takeaway

EUR/USD strength reflects a market reassessment of US trade risk rather than Eurozone optimism. As long as price holds above the 20 EMA, upside pressure remains favored. Thursday’s EU summit is the key near-term catalyst.

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GOLD (XAU/USD) — Safe-Haven Demand Accelerates

Key Highlights

• Gold breaks into new all-time highs
• US–Europe trade war boosts risk-off flows
• Fed leadership uncertainty supports hedging
• Equity markets sell off globally

Market Overview

Gold surges as geopolitical and trade tensions converge. Trump’s Greenland-linked tariff strategy against NATO allies has intensified safe-haven demand, pushing gold decisively beyond prior record levels. The move comes despite a firm Dollar, highlighting extraordinary risk aversion.

Technical Outlook (H4)

• Stochastic cooling from overbought
• Price holding above 20-period EMA
• Bullish structure remains intact

Key Levels

Resistance: 4787.70; 4893.66
Support: 4644.89; 4525.12

Fremora Takeaway

Gold is no longer reacting to single risks but to stacked uncertainty. Consolidation above previous records signals strength, not exhaustion. Any pullback remains corrective unless price loses the 20 EMA.

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GBP/USD — Sterling Rises With Europe

Key Highlights

• UK included in Trump tariff list
• Markets expect coordinated European response
• Dollar pressured by trade escalation
• UK data takes back seat to geopolitics

Market Overview

GBP/USD advances alongside the Euro as traders anticipate a unified European response to US tariffs. Despite Brexit-era separation, the UK is viewed as strategically aligned with EU retaliation efforts, supporting Sterling against a weakening Dollar.

Technical Outlook (H4)

• Stochastic turning lower from overbought
• Price consolidating around 20 EMA
• Market approaching decision zone

Key Levels

Resistance: 1.3489; 1.3550
Support: 1.3391; 1.3339

Fremora Takeaway

Sterling gains are geopolitically driven, not data-led. The pair sits at an inflection point—breaks above resistance favor continuation, while failure risks renewed range trading. EU summit outcomes will dominate direction.