A mildly positive background for the euro is forming today. Firstly, assets on the US Federal Reserve’s balance sheet increased by $31.6 billion over the past week, while the ECB’s balance sheet increased by €21.21 billion. The growth of both balances is primarily due to the purchase of bonds, while the Americans print money more actively than their colleagues from the eurozone, which will contribute to the growth of this currency pair.

Secondly, the rally in the oil market will have a negative influence on the value of the dollar, insofar as the commodity is quoted in the US currency. At the same time, today is a bank holiday in the US, and against this background, calm trading during the day should be expected.

Investment idea: Buy 1.2116/1.2099 and take profit 1.2170.