EU leaders reach deal on migration: EUR/USD jumps above 1.16

The EUR picked up a bid after EU's Tusk informed markets the leaders have reached a deal o migration.
The EUR/USD has moved back above the long-term rising trendline.

Omkar Godbole FXStreet Contributor

The bid tone around the EUR strengthened after the European Union's (EU) Donald Tusk informed markets that European leaders reached an agreement on migration.

At press time, the EUR/USD is trading at 1.1625, having clocked a session high of 1.1636.

The migration row was threatening the EU's unity and could have brought down German Chancellor Merkel's coalition government. Consequently, the common currency had dipped below the long-term ascending trendline (drawn from Dec 2017 low and April 2017 low).

However, the migration deal has pushed the EUR back above the key rising trendline. It remains to be seen if the common currency is able to capitalize on this relief rally.

EUR/USD Technical Levels

Resistance: 1.1631 (100-hour moving average), 1.1698 (4-hour 200MA), 1.1721 (June 25 high resistance on 4-hour chart).

Support: 1.1613 (4-hour 50MA), 1.1527 (previous day's low), 1.1508 (June 21 low).

	TREND INDEX	OB/OS INDEX	VOLATILY INDEX
15M		Overbought	High
1H	Bearish	Neutral	Low
4H	Bearish	Neutral	High
1D	Bullish	Neutral	High
1W	Strongly Bearish	Oversold	Expanding
Updated Jun 29, 02:45 GMT

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

EUR/USD extends advance toward 1.1700 amid USD weakness

EUR/USD extends its upside toward 1.1700 in the European session on Monday. The US Dollar wilts across the board amid renewed concerns over the US Federal Reserve's independence. Traders await the Eurozone Sentix Investor Confidence data for fresh directives.

GBP/USD rises further above 1.3450 as Fed concerns weigh on USD

GBP/USD builds on its recovery above 1.3450 in the European trading hours on Monday. The pair capitalizes on renewed US Dollar weakness, fuelled by fresh attacks from the US administration on Fed Chair Powell, which undermines the central bank's independence.

Gold consolidates below record highs at $4,600

Gold holds its retreat from fresh record highs of $4,601 in the European session on Monday. Reports that US President Donald Trump is weighing a series of potential military options in Iran fuel the risk of a further escalation of geopolitical tensions will likely keep Gold underpinned despite the latest profit-taking pullback.

Solana rebounds amid steady ETF inflows, privacy-focused hackathon

2026 economic and market outlook

As an aggregate, key economic indicators point towards the global economy growing further in out 2026 Economic and Market outlook. In particular, the G20 countries, which account for roughly 80% of the total global GDP are projected to grow by 2.9% next year.

Solana Price Forecast: SOL rebounds amid steady ETF inflows, privacy-focused hackathon

Solana edges higher by 2% at press time on Monday, adding to the nearly 3% rise from Sunday. A steady inflow into US spot SOL-focused Exchange Traded Funds reflects deeper institutional support for Solana. Additionally, Solana is exploring private transactions through a hackathon starting on Monday.