On Monday, the European Union will release its Initial Consumer Confidence for March, which is expected to come in at -6.5 from -6.6 earlier.
The US Federal Reserve Fed announced on Friday that it has expanded support to state and municipal financial markets using new money market liquidity facilities and boosted swap lines with some other central banks. On Saturday, it was reported that there was talk going on that Germany would raise the debt ceiling to include a supplementary government budget of 156 billion euros.
Technical Overview
The pair continued its decline in the second square to reach near its target at the 240 angle of the hexagon, achieving its lowest low at the level of 1.0637.
The decline is expected to continue with the 240 corner fracture and the 1.0598 price targeting 1.0390 with the possibility of correction to 1.0950 levels if it succeeds in breaching the 1.0820 resistance.
