For the bulls, resistance levels exist at $70.65 from a low on August 25th 2010, also at $74.33 161.8% Fibonacci extension level, and finally at $75.11 from October 4th 2011.
For the bears, important support levels exist at $67.75 previous high of 8th March, also at $65.00 where the MA50 is at right now, and finally at $61.53 May 21st low.
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• The main focus will be on Economic data from Germany, along with economic sentiment figures for Germany and the Eurozone. Announcements include German ZEW Economic Sentiment (Jun), Eurozone GDP (QoQ) (Q1) Final, Eurozone GDP (YoY) (Q1) Final, Eurozone ZEW Economic Sentiment (Jun).
• European stocks hit record highs on Monday as another run of gains in automakers more than offset early declines in commodity-linked shares sparked by downbeat China export data.
The continent-wide STOXX 600 index added 0.2%, with global investors now eyeing a European Central Bank meeting later this week.
• German factory orders unexpectedly fell in April as domestic demand dropped, according to figures released on Monday by Destatis.
Factory orders dipped 0.2% on the month following a 3.9% increase in March, and versus expectations for a 0.5% rise. On the year, factory orders surged 78.9% in April following a 29.2% jump the month before.
• Investor morale in the euro zone rose for the fourth month in a row in June, reaching its highest level since February 2018, lifted by reopening restaurants and tourism resuming as coronavirus cases fall, a survey showed on Monday.
Sentix's index for the euro zone climbed to 28.1 from 21.0 in May. A Reuters poll had pointed to a reading of 26.0.
• British house prices in May were 9.5% higher than a year earlier, their biggest annual increase in nearly seven years, mortgage lender Halifax said on Monday.
House prices in May were 1.3% higher than in April, when they rose by 1.5%.
• At 06:00 (GMT) EU German Industrial Production m/m coming out. It's a measure of the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
• At 09:00 (GMT) EU Final Employment Change q/q results are expected. This 1st Quarter report measure the Change in the number of employed people. Its Usual Effect is when 'Actual' is greater than 'Forecast' this is good for the currency, and vice versa. It is released quarterly, about 65 days after the quarter ends.
• At 09:00 (GMT) EU ‘”Zentrum fur Europaische Wirtschaftsforschung” (ZEW) Economic Sentiment is to be released. This is a Survey of about 275 German institutional investors and analysts which asks respondents to rate the relative 6-month economic outlook for the Eurozone.
• At 09:00 (GMT) EU ZEW Economic Sentiment is to be released. This is a Survey of about 300 German institutional investors and analysts which asks respondents to rate the relative 6-month economic outlook for Germany.
European indices yesteday:
• DAX: -0.10%
• EURO: +0.50%
• MIB: +0.99%
• CAC: +0.43%
Sources: Investing.com, forexfactory.com.