Last week, EUR/USD reached 1.1630, the highest level in 4 years and 8 months. But after that, the conflict in the Middle East became worse. Because of this, many people bought US dollars for safety, and EUR/USD dropped to 1.1447. Later, news said that the US would not attack Iran for at least two weeks. This made people sell dollars again, so EUR/USD went up to around 1.15 before the market closed. Also, people think the European Central Bank (ECB) may stop cutting interest rates soon. This helped support the euro.
This week, EUR/USD is expected to stay at a high level. But the trade talks between the US and Europe are still difficult. If President Trump says something negative, the euro could fall for a short time.
Because the US already attacked Iran, risk in the Middle East is high again this week. Oil prices may rise, and this is bad news for the euro. It seems EUR/USD already reached its short-term top price. But if the price drops, people may buy euros again because of interest rate expectations. So, EUR/USD may stay high this week.
This week’s expected EUR/USD range: 1.1420 – 1.1600
Note: This information does not guarantee profits. Please make your own decisions when trading.