EURUSD:
The euro remains under pressure amid ongoing political uncertainty in France and steady demand for the US dollar as a defensive asset. Reports about changes in government and challenges around budget plans increase the risk premium in the euro area and push investors toward safer dollar assets. France’s equity market and intra-EU yield spreads reflect nervousness, worsening the short-term balance for the single currency.
On the US side, the dollar is supported by stable demand for Treasuries and expectations regarding the Federal Reserve’s next steps. Although some macro releases arrive with a lag, market participants focus on signals from meeting minutes and officials’ remarks. Daily commentaries emphasize that attempts to recover the euro are weakly bought, while the news flow from France continues to outweigh local euro-positive factors. At the time of writing, the pair trades near 1.1570 according to public quote feeds; this aligns with today’s broker commentaries highlighting the euro’s vulnerability under the current political backdrop. Based on these factors, we keep a conservative sell plan from 1.1575 with reasonable targets.
Trading recommendation: SELL 1.1575, SL 1.1625, TP 1.1500
Origin: FreshForex
