EURUSD

The EUR/USD pair starts a week full of critical data and interest rate decisions from both the US and Europe just below the pivot level of 1.1720, at a decision phase. 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 support level of 1.1659, 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 the ECB gives "hawkish" messages during the press conference on Thursday, it will ignite a bullish sentiment for the pair. In this scenario, the first target would be the resistance at 1.1779, and if this level is surpassed, the levels of 1.1828 and the weekly peak target of 1.1887 will come into play.