In the Asian session on Monday, the Euro fluctuated weakly at around 1.2100. The European Central Bank (ECB) kept its target interest rate unchanged at -0.5% and raised its economic growth and inflation expectations. ECB also promised to keep stimulus measures unchanged in the summer because of fears that exiting now will accelerate the rise in borrowing costs, and core inflation is lower than the ECB’s target until at least 2023. Europe lags behind the United States in economic recovery and vaccination, while the European Central Bank purchased approximately 80 billion Euros of bonds per month under PEPP this quarter, up from approximately 62 billion Euros in the first quarter. From a technical perspective, the Euro’s weekly candle is closed bearish consecutively, and the daily candle breaks through the key point 1.2100. H4 graph shows a weakening ladder and the bearish sentiment has increased. All indicators show a bearish signal. Overall, prioritise sell on high position. The deciding point whether to buy or sell is near 1.2100.
Resistance：1.2130-1.2170-1.2200
Support：1.2050-1.2020-1.2000
Disclamer: The report is speculatif and DO NOT guarantee profit. Not financial advice. Please trade at your own risk.