We welcome you to holiday-shortened trading week before the Easter break. Global financial markets will be closed on Good Friday and Easter Monday, which is why we might see a drop in market volatility throughout the next trading days. After the rallies in the euro and British pound, the market ran out of steam, which led to a small rebound in the currency pairs. Consequently, there was only little consistency in the performance of the euro and pound sterling last Friday, and traders who took the recommended trading break have made the best choice.
What will be important this week?
From the Eurozone we have the German IFO and ZEW Surveys scheduled for release on Tuesday, and if data is strong the euro could head for a test of 1.1370 and 1.14. For sterling traders U.K. Consumer Prices (Tuesday) and Retail Sales (Thursday) will be the most important pieces of U.K. economic data this week. However, how the euro and GBP will trade this week and whether both currencies can extend their rises will also hinge on the performance of the U.S. dollar. The most important piece of U.S. data will be Durable Goods Orders scheduled for release on Thursday, and if data disappoints it could lend further support to the euro and British pound.
Today, U.S. Existing Home Sales due for release at 14:00 GMT could have a short-term impact on the greenback.
A next support is seen at 1.1220/1.12. If the pair breaks below 1.12 a lower target could be at 1.1140. On the upside, we will wait for the price to climb back above the 1.13-level in order to buy euros towards 1.1335 and 1.1380. 
The cable recently defined a trading range between 1.4515 and 1.4410. Once it breaks above or below that range we could see increased momentum towards either side but any bullish momentum could be currently limited until 1.4540 and 1.4570, whereas we see a higher likelihood for increased bearish momentum after a break below 1.4380.
We wish you a successful trading week.
Here are our daily signal alerts:
EUR/USD
Long at 1.1310 SL 25 TP 20, 45
Short at 1.1240 SL 25 TP 25-30
GBP/USD
Long at 1.4475 SL 25 TP 25, 50
Short at 1.4380 SL 25 TP 40
We wish you good trades and many pips!
Disclaimer: Any and all liability of the author is excluded.