EURUSD: SELL 1.1530, SL 1.1550, TP 1.1440 | 17 يونيو 2025

Event to pay attention to today:

15:30 EET. USD - Empire Manufacturing Index

EURUSD:

EUR/USD continues to decline for the second session in a row, trading around 1.1540 during Asian hours on Monday. The pair is depreciating amid the strengthening of the US dollar (USD) due to increased demand for safe assets against the backdrop of escalating geopolitical tensions in the Middle East.

On Friday, Israel began striking Iranian nuclear facilities and missile factories. Iran responded with an attack on Israel on Sunday evening, resulting in an explosion in the coastal city of Haifa. Israel continued to strike military targets in Iran despite calls from the international community for diplomacy and de-escalation, CNN reports.

In addition, Iranian media outlet Mehr News reported that Iran began the fourth phase of its operation against Israel on Sunday. Iranian officials emphasised that they would ‘respond decisively to any adventurism’ on the part of Israel.

On Friday, the University of Michigan (UoM) showed that the consumer confidence index rose to 60.5 in June from 52.2 previously. This figure was higher than the market consensus of 53.5. The US Federal Reserve (Fed) is expected to keep its policy within the 4.25%–4.50% range in its upcoming decision on Wednesday. However, traders now expect a 25 basis point rate cut by September.

Nevertheless, the decline in the EUR/USD pair may be limited, as the euro (EUR) is supported by growing optimism that the European Central Bank (ECB) will pause its easing cycle to assess the impact of new US tariffs.

Trading recommendation: SELL 1.1530, SL 1.1550, TP 1.1440

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