EUR extends gains after Merz elected German chancellor

By X-blogger - on May 7, 2025

The dollar fell broadly on worries that U.S. President Donald Trump’s touted trade deals have yet to materialize, while the euro extended gains after the German parliament elected conservative leader Friedrich Merz as chancellor.

The Euro gained 0.5% against the Dollar in the last session. According to the Stochastic-RSI, we are in an overbought market.
Support: 1.1205 | Resistance: 1.1512

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