No important events are expected today.

The decline of quotations to the nearest support levels is advisable to use for opening Buy positions for two reasons. First, there is a strong decline of 10-year government bond yields in the U.S. debt market, which is negative for the dollar. In the first half of last week, bond yields rose sharply as Silicon Valley Bank of America was forced to sell all of its assets at any price in order to meet its obligations to depositors.

As a result, government bonds fell sharply in value and yields rose as indicators have an inverse correlation. On Thursday, all the assets were sold, but it didn’t save the bank and it was declared bankrupt on Friday. Now the government debt market is stabilizing, which is negative for the dollar. Secondly, an increase in gold prices will provide additional support to the Euro, as the assets are correlated with each other.

Recommendations: Buy 1.0660/1.0630 and TP 1.0757.