A break and closing of the price above the Fibonacci 1.618 extension level may allow the price to rally higher. Important resistance points at 1.2243, 1.2350 formed by previously formed tops, and 1,2449 Fibonacci 2.618 extension level. A break below the tentative trendline formed from the March 31st bottom may signal a reversal of the bull-trend. Important support found at 1.1990 inside support level, at 0.618 Fibonacci level at price 1.1880 and at 1.1704 formed from the previous March 31st bottom.
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• It’s another quiet day on the Eurozone economic calendar, leaving stats from the U.S to provide direction late in the session. There are only UK MPC Members participation in various panels during the evening.
• European Central Bank policymakers set the stage for a June 10 showdown over the future of their COVID-19 emergency bond purchases when they met in April but stopped short of discussing their next move, the account of their meeting showed on Friday.
• Japan stocks were higher after the close on Friday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 2.32%.
• European stock markets traded higher Friday, helped by the rebound on Wall Street as Federal Reserve officials managed to ease investor jitters over growing inflationary pressures.
• At least two owners of tankers delivering crude oil to Israel asked to divert from Ashkelon to the port of Haifa, farther north of Gaza, because of the conflict, shipping sources said on Friday. An industrial zone near Ashkelon was hit by a rocket on Tuesday, damaging a fuel storage tank.
• Italy's hopes of producing its own COVID-19 vaccine have been thrown into doubt after the state audit court rejected a plan to pump public funds into local biotech company ReiThera.
• 14:15 (GMT) UK MPC Member Silvana Tenreyro is due to speak at an online awards ceremony co-hosted by the Bank of France and the Toulouse School of Economics.
• 15:30 (GMT) UK MPC Member Gertjan Vlieghe is due to participate in a virtual panel discussion titled "What Next for Monetary Policy?" at an online conference co-hosted by Kings Business School and Qatar Centre for Global Banking and Finance.
• 16:30 (GMT) UK MPC Member Andy Haldane is due to speak at an online event co-hosted by the Institute for History and Policy and University of Southampton.
European indices yesterday:
• DAX: +1.43%
• EURO: +1.64%
• MIB: +1.14%
• CAC: +1.54%
Sources: Investing.com, forexfactory.com, cnbc.com