No major events are expected today.

EUR/USD continues its fourth consecutive session of declines, trading around 1.1730 during Asian hours on Monday.

Federal Reserve Chair Jerome Powell stated at a press conference after the meeting that growing signs of weakness in the labor market explain why officials decided it was time to cut rates after holding them steady since December amid concerns over tariff-driven inflation. The Fed’s rate forecast, or so-called “dot plot,” indicated two more rate cuts are expected this year.

The EUR/USD pair also faced difficulties due to euro (EUR) issues: last week, hundreds of thousands of people protested in major French cities, calling on President Emmanuel Macron and newly appointed Prime Minister Sébastien Lecornu to abandon spending cut plans introduced by former Prime Minister François Bayrou.

European Central Bank (ECB) Governing Council member Mário Centeno said on Friday that “the next step will likely still be a rate cut,” adding that inflation cannot remain below 2% for too long, and noting that risks to inflation remain tilted to the downside.

Recommendations: SELL 1.1705, SL 1.1735, TP 1.1655.