On Monday, EURUSD opened weak, offsetting the strong increase of the previous week. Dollar index rose, and Euro was under pressure. The European Central Bank may announce a reduction in plan for the purchase of epidemic-related assets in the next quarter. With the fastest economic growth in the history of the Eurozone and the inflation rate is set to rise further, pressure on the European Central Bank to scale down the Pandemic Emergency Purchase Program (PEPP) is growing.
From a technical point of view, Euro’s daily candle closed bearish and was under pressure below the middle BOLL band. The overall trend was weak. H4 graph showed that Euro rises and falls, the moving average converges and gradually become one. The MACD is near the 0 axis and the relative strength indicator is near 50, both of which indicate the lack of direction in the market. Overall prioritize operation within the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1750.
Resistance：1.1800-1.1830-1.1860
Support：1.1750-1.1730-1.1700
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