EUR/USD sits at $1.1454, just 10 pips...>

EURO-DOLLAR: EUR/USD sits at $1.1454, just 10 pips shy of yesterday's high,

after advancing 43 pips on Monday. 

- EUR outperformed all but one of its G10 peers yesterday. 

- The rate jumped nearly 40 pips after U.S. stocks fared badly at the open on

the back of escalating global trade concerns & reports of Apple cutting down

orders for three iPhone models. 

- The initial bullish target is posed by yesterday's peak of $1.1464. A break

above would open up the upper Bollinger band (2%) at $1.1485. Conversely, bears

eye yesterday's lows of $1.1394 and a break below would shift their focus to the

21-DMA at $1.1376. 

- Highlights this week include EZ consumer confidence on Thursday, as well as

flash PMIs & final German GDP reading on Friday. Elsewhere, Wednesday is the

only day with no ECB rhetoric scheduled, but should see the European Commision

deliver its verdict on the Italian budget situation.