Source: PaxForex Premium Analytics Portal, Technical Insight

As reported last Sunday by a member of the ECB Governing Council P. Kazimir:

• Inflation is not at the levels we want to see it on;

• We will do our best to bring it back to the desired target levels;

• We expect the state of low inflation or even deflation to be only temporary.

EUR/USD, 30 min

Pivot: 1.1818

Analysis:

Provided that the currency pair is traded above 1.1795, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.1818
• Take Profit 1: 1.1855
• Take Profit 2: 1.1870

Alternative scenario: 

In case of breakdown of the level 1.1795, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.1795
• Take Profit 1: 1.1780
• Take Profit 2: 1.1755

Comment:

RSI is bullish and indicates an uptrend within a day.

Key levels:

EUR/USD, D1 

Pivot: 1.1815

Analysis:

While the price is below 1.1850, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.1815
• Take Profit 1: 1.1695
• Take Profit 2: 1.1610

Alternative scenario:

If the level 1.1850 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 1.1850
• Take Profit 1: 1.2015
• Take Profit 2: 1.2150

Comment:

RSI shows the continuation of a downtrend in a medium term.

Key levels:

We also advise you to pay attention to the following currency pairs for intraday trading:

USD/CAD – sell below 1.3160 with 1.3105 and 1.3080 targets as Take Profit. Alternative scenario - if the level 1.3160 is broken-out, buy with the TP 1.3180 and 1.3200.
GBP/USD - long positions above 1.3000 with 1.3080 and 1.3105 targets as Take Profit. Alternative scenario - if the level of 1.3000 is broken-down, sell with the targets 1.2970 and 1.2950 as Take Profit.
AUD/USD – buy above 0.7200 with 0.7270 and 0.7295 as Take Profit targets. Alternative scenario - if the level of 0.7200 is broken-down, you should consider selling with the targets 0.7170 and 0.7145 as Take Profit.