The euro is flat on Monday, as EUR/USD is trading at 1.1370 in the European session. On the release front, Eurozone Unemployment Rate remained at 10.3%, matching the forecast. Spanish Unemployment Change was excellent, posting a sharp decline of 58.2 thousand. This was the indicator’s strongest reading in seven months. Eurozone Sentix Investor Confidence improved slightly to 5.7 points, but this was well short of the estimate of 6.9 points. In the US, it’s a quiet start to the week, with no major releases on the schedule.The US dollar suffered its worst week in two months, as EUR/USD surged some 230 points. The euro took full advantage of Janet Yellen’s very dovish comments last week at a speech in New York. Yellen warned of risks to the US economy from uncertainty in the global markets and the slowdown in China, and poured cold water on speculation of an April rate hike.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.4240 TARGET 1.4260 1.4290 SL 1.4210
SELL GBP/USD BELOW 1.4200 TARGET 1.4180 1.4150 SL 1.4230
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