On Monday, Euro undergo huge fluctuation. The U.S. market was boosted by the weakening of the USD. Euro recovered most of the daily decline. At present, USD has climbed to a two-week high against major currencies. The market continues to the possibility that the Fed will reduce obligation purchase under the current situation where there is surge in confirmed cases of new Covid-19 virus. The European Central Bank said last week that it will begin to reduce the scale of its emergency bond purchases. The focus of the day will be on the US monthly consumer price index (CPI).
From a technical point of view, Euro’s daily candle closed with a T pattern, with strong support below. The candle broke through the middle BOLL band and rebounded quickly. H4 graph showed that BOLL has slightly narrowed, and the middle band is under pressure. MACD operates below the zero axis, and the moving average formed Golden Cross. Overall prioritize operation on the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1840.
Resistance：1.1840-1.1880-1.1910
Support：1.1800-1.1770-1.1750
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