EURUSD

The EUR/USD pair starts the week just below the 1.1720 pivot level, at a decision-making stage, with critical data and interest rate decisions coming from both the US and Europe. The direction of the pair will primarily be determined this week by the US PPI on Wednesday, followed by the US CPI and ECB interest rate decision on Thursday. A higher-than-expected US inflation figure could strengthen the Dollar, pushing the pair sharply towards the 1.1659 support level, and if this level is broken, towards the main support area at 1.1551. On the other hand, if US inflation comes in line with or below expectations, and if the ECB gives "hawkish" (tight stance) messages during its press conference on Thursday, it will ignite a bullish momentum for the pair. In this scenario, the first target will be the 1.1779 resistance, and if this level is surpassed, the 1.1828 and the weekly peak target of 1.1887 levels will come into focus.