empty
InstaForex - Official partner of Dragon Racing
InstaForex - Official partner of Dragon Racing
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Headquarters
Key documents
Social Responsibility
16.04.2025 06:48 PM
No Progress in Negotiations
Open trading account Open demo account

This week, the European Union and the United States made no significant progress in resolving trade disputes, as officials from President Donald Trump's administration indicated that most of the U.S. tariffs imposed on the bloc would not be lifted.

This image is no longer relevant

Despite the negotiations, both sides held firm to their positions. U.S. representatives insisted that the EU must make substantial concessions and lower trade barriers for American goods. In turn, European negotiators argued that the tariffs imposed by the U.S. are unfair and violate World Trade Organization rules. Of particular concern to European officials were the steel and aluminum tariffs, which they claim are seriously harming European industry. They also expressed alarm over U.S. plans to introduce additional tariffs on European cars.

Rumors suggest that EU Trade Committee head Maros Sefcovic left the meeting without clarity on the U.S. stance. American officials indicated that the 20% reciprocal tariffs, which Trump reduced to 10%, as well as other tariffs targeting sectors like autos and metals, would not be lifted immediately.

It's worth recalling that uncertainty surrounding Trump's chaotic tactics—filled with delays, retreats, new threats, sudden exemptions, and trial balloons—has already led to a sharp rise in the euro and a weakening of the U.S. dollar. Clearly, this trend is likely to continue.

The EU proposed that both sides eliminate all tariffs on industrial goods, including automobiles, but Trump has so far rejected this offer. Experts have repeatedly pointed out that although Trump seems to be banking on a 25% tariff on imported vehicles and auto parts to boost domestic production, the outcome may not be so straightforward.

Elsewhere, in Canada, Prime Minister Mark Carney stated that his government would allow automakers to import U.S.-made cars and trucks duty-free, as long as the companies continue to manufacture vehicles in Canada. This move provides some relief from the trade war for companies like General Motors and Stellantis, which have assembly plants in Ontario but export large volumes of vehicles from the U.S. to Canada.

Technical Outlook for EUR/USD:

Buyers now need to focus on reclaiming the 1.1420 level. Only then can a test of 1.1467 be expected. From there, a climb to 1.1525 is possible, though achieving this without support from major market players will be challenging. The ultimate target is the 1.1545 high. In case of a decline, serious buying interest is expected only around 1.1340. If there's no activity at that level, it would be prudent to wait for a retest of the 1.1260 low or to consider long positions from 1.1165.

Technical Outlook for GBP/USD:

Pound buyers need to take control of the nearest resistance at 1.3300. Only then can they aim for 1.3345, a level that will be difficult to break above. The next target would be the 1.3390 area. In case of a decline, bears will attempt to reclaim control over 1.3250. If they succeed, a breakout below that range would deal a serious blow to the bulls and could push GBP/USD down to the 1.3180 low, with further downward potential toward 1.3130.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
All Analytics
Analytical News
US Market News Digest for May 2 US equity indices continue to climb despite lingering economic uncertainty. Investor optimism is being driven by expectations of progress in trade talks between the US and China. Nevertheless, ongoing economic
Ekaterina Kiseleva
13:14 2025-05-02 +02:00
1075
Forecast
USD/JPY: Simple Trading Tips for Beginner Traders on May 2nd (U.S. Session) Trade Analysis and Advice for the Japanese Yen The test of the 145.05 level occurred when the MACD indicator had already moved significantly below the zero mark, which limited
Jakub Novak
12:24 2025-05-02 +02:00
1270
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD: Analysis and Forecast

The EUR/USD pair is attracting buyers today, breaking a three-day losing streak and attempting to build intraday momentum above the psychological 1.1300 level. This indicates a renewed interest from buyers
Irina Yanina 11:59 2025-05-02 UTC+2

U.S. Labor Market Data Could Be a Major Disappointment

Employment growth in the U.S. likely slowed in April, although the unemployment rate is expected to remain unchanged, pointing to healthy but moderate demand for labor. However, the Trump administration's
Jakub Novak 10:08 2025-05-02 UTC+2

The ECB Has No Other Choice

The European currency continues to lose ground against the U.S. dollar as traders increasingly place bets on the European Central Bank's upcoming monetary policy decisions. According to data, the chances
Jakub Novak 10:03 2025-05-02 UTC+2

China Has Finally Responded

The euro, the pound, and other risk assets reacted with gains following statements from Chinese authorities that they are assessing the possibility of trade negotiations with the United States—marking
Jakub Novak 09:57 2025-05-02 UTC+2

The Process Has Begun. China Is Ready for Trade Talks (There's a Chance of Renewed Decline in Gold and EUR/USD Prices)

Trading on the last day of the week is unfolding positively. News that China is ready to begin negotiations has inspired investors to buy risk assets and weakened the U.S
Pati Gani 09:43 2025-05-02 UTC+2

The Market Enters Turbulent Waters

The market is confident that tariffs won't materialize or that companies can pass them on to customers. The S&P 500's eight-day rally—its longest since August—strongly hints at this. So does
Marek Petkovich 09:24 2025-05-02 UTC+2

What to Pay Attention to on May 2? A Breakdown of Fundamental Events for Beginners

Only a few macroeconomic events are scheduled for Friday, but some are quite significant. Naturally, the focus is on the U.S. NonFarm Payrolls and unemployment rate, yet it's also important
Paolo Greco 09:14 2025-05-02 UTC+2

GBP/USD Overview – May 2: The U.S. Dollar Didn't Rise for Long

On Thursday, the GBP/USD currency pair continued to decline. The dollar had strengthened for three consecutive days—despite having no objective reason. U.S. macroeconomic data has been consistently weak; there were
Paolo Greco 03:50 2025-05-02 UTC+2

EUR/USD Overview – May 2: The Dollar Faces a New Collapse – And It's Far from the Last

On Thursday, the EUR/USD currency pair once again traded relatively calmly, but the U.S. dollar failed to show any meaningful growth this time. A little bit of good news goes
Paolo Greco 03:47 2025-05-02 UTC+2

USD/JPY: A Rough Patch for the Yen

At its latest meeting, the Bank of Japan kept all key policy settings unchanged, effectively implementing the most expected baseline scenario—despite earlier conflicting statements from central bank officials
Irina Manzenko 01:19 2025-05-02 UTC+2

Top analytics

Relevance up to 03:00 2025-05-04 UTC--4
The Process Has Begun. China Is Ready for Trade Talks (There's a Chance of Renewed Decline in Gold and EUR/USD Prices)
09:43 2025-05-02
Fundamental analysis
Relevance up to 00:00 2025-05-03 UTC--4
Intraday Strategies for Beginner Traders on May 2
06:49 2025-05-02
Forecast
Relevance up to 21:00 2025-05-02 UTC--4
EUR/USD Overview – May 2: The Dollar Faces a New Collapse – And It's Far from the Last
03:47 2025-05-02
Fundamental analysis
Relevance up to 01:00 2025-05-03 UTC--4
GBP/USD: Simple Trading Tips for Beginner Traders on May 2. Review of Yesterday's Forex Trades
09:14 2025-05-02
Forecast
Relevance up to 05:00 2025-05-03 UTC--4
EUR/USD: Analysis and Forecast
11:59 2025-05-02
Fundamental analysis
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.