French Government Maintains Growth Forecast

The headline indicates that the French government has maintained its growth forecast, suggesting no deterioration in the current economic outlook. However, technical indicators show the RSI approaching overbought territory at 73.75, and while the MACD remains above its signal line, momentum may weaken. The last close at 8319.83 is above the SMA20 (8141.70) and SMA50 (8095.85), confirming a positive trend, but the 3.58% rise in the last 24 hours could trigger profit-taking in the short term. Therefore, upside potential may remain limited in the near term, and the market may show a tendency to consolidate at current levels.

EURUSD is trading at 1.1750, very close to its 20-day SMA (1.1751). The RSI at 54.7 is in neutral territory, while the MACD is slightly below its signal line, offering no clear directional signal in the short term. Although the French government's decision to maintain its growth forecast is mildly positive for the euro, the market may have already priced in this expectation. Technically, support stands at 1.1719 (50-day SMA) and resistance at 1.1780. Therefore, a sideways movement is expected over the 1-3 day horizon.