By RoboForex Analytical Department
The EUR remains at a low level, with the most traded currency pair in the market staying near 1.0730 on Monday.
Investors continue to focus on the issue of raising the US public debt limit. There are discussions underway between Congress and the White House regarding a framework agreement on increasing the debt ceiling.
It is expected that Republicans will agree to raise the borrowing limits by 4 trillion USD over two years if the Democrats allow for restrictions on non-defense spending in 2024.
As it is a public holiday in the US on Monday, official news is anticipated in the coming days. This week, the country will release important statistics, including labor market indicators for May.
Technical analysis:
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
On the H4 timeframe, EUR/USD has completed a downward wave, reaching 1.0701. Currently, the market is correcting towards 1.0760. After the correction, a decline to 1.0730 can be expected. It is possible for a consolidation range to form around 1.0730. If the price breaks out of the range upwards, the correction might continue towards 1.0804, which is the initial target. This scenario is technically supported by the MACD, as its signal line is currently at lows below zero and preparing to rise towards the zero mark.
On the H1 timeframe, EUR/USD experienced a downward wave, reaching 1.0701. The market has made an upward impulse towards 1.0730 and is currently forming a consolidation range around this level. A potential upward structure might develop towards 1.0744, which is a local target. Once the price reaches this level, a decline to 1.0730 followed by a rise to 1.0760 is expected. The Stochastic oscillator confirms this scenario, as its signal line is near 80. A decline to 50 could occur today, after which a rise towards 80 may follow.
Disclaimer
Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.
- Oil prices fall back to pre‑war levels. Silver drops to a 7‑month low Jun 25, 2026
- Gold Falls to an Eight-Month Low: This May Not Be the Bottom Jun 25, 2026
- Stock indices came under heavy selling pressure amid growing skepticism about AI investments Jun 24, 2026
- The Pound Is Pressured Not by Politics, but by a Strong US Dollar Jun 24, 2026
- Global crude oil prices continued to decline. The AUD/USD exchange rate hit an 11‑week low Jun 23, 2026
- EUR/USD Remains Under Sellers’ Control as the Dollar Stays Strong Jun 23, 2026
- Gold Falls for the Third Consecutive Week: Is There Still Upside Potential? Jun 22, 2026
- Bank Indonesia raised its interest rate. Norges Bank and the SNB left rates unchanged Jun 19, 2026
- EUR/USD Loses Ground as Market Sentiment Favours the US Dollar Jun 19, 2026
- GBPUSD Awaits Bank of England Meeting Near April Lows Jun 18, 2026
