Source: PaxForex Premium Analytics Portal, Technical Insight

As the head of ECB C. Lagarde stated last weekend:

• Continuation of expansionary fiscal policy is vital to prevent a massive loss of jobs and to support household incomes until recovery is more robust;

• The ECB will carefully assess incoming data, including data on the euro appreciation, which is a risk factor for the economy and inflation.

EUR/USD, 30 min

Pivot: 1.1845

Analysis:

Provided that the currency pair is traded above 1.1825, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.1845
• Take Profit 1: 1.1860
• Take Profit 2: 1.1875

Alternative scenario: 

In case of breakdown of the level 1.1825, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.1825
• Take Profit 1: 1.1810
• Take Profit 2: 1.1795

Comment:

RSI is bullish and indicates an uptrend within a day.

Key levels:

EUR/USD, D1

Pivot: 1.1842

Analysis:

While the price is above 1.1700, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.1842
• Take Profit 1: 1.2015
• Take Profit 2: 1.2150

Alternative scenario:

If the level 1.1700 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 1.1700
• Take Profit 1: 1.1490
• Take Profit 2: 1.1380

Comment:

RSI shows the continuation of an uptrend 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 1.3190 with 1.3145 and 1.3115 targets as Take Profit. Alternative scenario - if the level 1.3190 is broken-out, buy with the TP 1.3210 and 1.3230.
GBP/USD - long positions above 1.2770 with 1.2865 and 1.2900 targets as Take Profit. Alternative scenario - if the level of 1.2770 is broken-down, sell with the targets 1.2740 and 1.2715 as Take Profit.
AUD/USD – sell below 0.7290 with 0.7265 and 0.7255 as Take Profit targets. Alternative scenario - if the level of 0.7290 is broken-out, you should consider buying with the targets 0.7305 and 0.7325 as Take Profit.