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A brand new trading week means we get a new chance to trade major currency pairs like EUR/USD!

Will the euro extend its losses against the dollar in the next trading sessions?

Before moving on, ICYMI, I’ve listed the potential economic catalysts that you need to watch out for this week. Check them out before you place your first trades today!

And now for the headlines that rocked the markets in the last trading sessions:

Fresh Market Headlines & Economic Data:

France’s Macron wins a second term, defeats Le Pen in first reelection win in 20 years

Libya says armed clashes at key oil port damaged storage tanks

Apple supplier Foxconn halts operations at 2 Chinese plants on rising Covid-19 cases

AU, NZ markets out on Anzac Day holiday

Beijing shoppers clear store shelves as district starts mass testing

China’s spreading covid-19 outbreak stokes fear of a Beijing lockdown

Oil, Asian stocks slide on Beijing lockdown fears, dollar shines as rate hikes loom

European stocks slide to 1-month low as China slowdown worries offset Macron win

Upcoming Potential Catalysts on the Forex Economic Calendar:

U.K.’s CBI industrial order expectations at 10:00 am GMT
BOC Governor Macklem to make a testimony in Ontario
Japan’s unemployment rate at 11:30 pm GMT
NZ’s annualized credit card spending at 3:00 am GMT (Apr 26)
BOJ’s core CPI at 5:00 am GMT (Apr 26)

Use our new Currency Heat Map to quickly see a visual overview of the forex market’s price action! 🔥 🗺️

What to Watch: EUR/USD

EUR/USD 1-hour Forex Chart

EUR/USD 1-hour Forex Chart

A lack of top-tier economic releases over the next couple of hours means that traders could focus on overall market sentiment.

Specifically, U.S. and European traders could price in higher interest rates in the U.S., Russia intensifying its efforts to take over the southern Ukraine and Donbas regions, AND China possibly locking down Beijing amidst rising COVID cases.

Mondays gonna Monday, amirite?

EUR/USD has already lost some of its shine after gapping higher on the back of Macron winning a re-election bid over the weekend.

In fact, the pair has made new April lows before some EUR bulls stepped in.

Watch the 1.0800 area for a break-and-retest opportunity. If today’s pullback finds resistance at the trend line and previous support zones, then we could see even lower lows for EUR/USD.

But if the green candlesticks keep showing up to eventually break above the month-long trend line resistance, then you gotta be ready for a short-term reversal.