The currency pair went upwards last week after the OPEC+ has reached the agreement to decrease oil production. Another reason for this short uptrend was weak US Labor Market and inflation data.

It is to mention that the number of unemployed in the US has reached more that 6 million people. As for the CPI data, there is deflation in the US.

We expect the EUR/USD to develop its uptrend this week targeting 1,1068. This scenario will be cancelled if EUR/USD retests 1,0870.