The euro moved around 1.04 in the Tokyo market but started rising in the European market. European Commission President von der Leyen announced that Europe would spend 800 billion euros on rearming. Also, Germany’s next Chancellor, Merz, said he would change debt rules to allow more defense spending. Because of this, the euro rose to 1.0559.
Later, the euro fell but then rose again in the New York market as U.S. long-term interest rates dropped. Ukraine’s President Zelensky also said he was ready to sign an agreement on natural resources and security, which helped push the euro up. The euro closed in the early 1.06 range.
The euro has broken above the resistance level of 1.0330, possibly triggering stop-loss orders. However, before the ECB meeting on the 6th, some selling for adjustment may start.
EUR/USD Expected Range: 1.0650 – 1.0560
Note: The information above does not guarantee profit. Please make your own decisions when trading.