Daily Forex News and Watchlist: EUR/USD

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A new trading week means we get another opportunity to trade major currency pairs like EUR/USD!

Will the Euro extend its losses against the Dollar in the next trading session?

Before we continue, ICYMI, I have listed the potential economic catalysts to look out for this week. Try it before you make your first trade today!

And now for the stocks that have rocked the market over the last few trading sessions:

New market titles and economic data:

France’s Macron wins second term, beating Le Pen in first re-election win in 20 years

Libya claims storage tanks were damaged in armed clashes at a major oil port.

Australia, New Zealand sold on Anzac Day

The spread of the Covid-19 epidemic in China has raised fears of a blockade in Beijing.

Asian oil and stocks fall on fears of Beijing blockade, dollar shines as interest rates rise

European stocks fall to one-month low as worries about China slowdown derail Macron victory.

Upcoming Potential Catalysts in Forex Economic Calendar:

Expectations for industrial orders from UK CBI at 10:00 GMT
Governor of the Board of Commissioners MacLem to testify in Ontario
Unemployment rate in Japan at 23:30 GMT
Annual NZ credit card issuance at 3:00 GMT (26 April)
BOJ Headline CPI at 5:00 GMT (26 April)

What you should be looking at: EUR / USD

The lack of high-level economic communication over the next few hours means traders can focus on the overall market sentiment.

US and European traders in particular can expect higher US interest rates, Russia is stepping up efforts to take over southern Ukraine and the Donbass region, and China is likely to block Beijing amid rising COVID cases.

Monday will be Monday, amirite?

EUR/USD has lost some of its luster after rising on the back of Macron, who won his re-election bid over the weekend.

In fact, the pair made fresh lows in April before some of the euro’s gains intervened.

Watch the 1.0800 zone for a possible break and retest. If today’s pullback rejects the previous trend line and support zone, we could see even lower EUR/USD lows.

But if the green candle continues to appear until it finally breaks above the 1-month trendline resistance, then you should prepare for a short-term reversal.