No important events are expected today.

In the first half of the day we should expect quotes to rise to the 1.0944/1.0970 area, as the credit rating agency Moody’s kept Italy’s credit rating. Last week there were fears that if Italy was downgraded to “junk”, we will see not only sell-offs in Italian securities, but also in EURUSD, but the “black swan” did not arrive, so buyers of the European currency have a reason for optimism.

The head of the ECB Christine Lagarde at the end of last week voiced a number of disappointing forecasts on the European economy, believing that the number of able-bodied population in the eurozone will soon begin to decline, which is negative for GDP growth. According to the head of the ECB, there are more and more signs of the global economy disintegrating into competing blocs, which also carries huge risks for Europe.

Recommendations: Buy 1.0895/1.0870 and TP 1.0940.