EUR/USD (1.5372)

European & US sessions forecast levels: 1.5280/1.5495

Trend Sessions: European: Neutral/Upward

US: Neutral

Market Focus: 2:00 PM Treasury Budget, 3:45 AM French CPI, 6:00 AM Industrial Production.

Daily Strategy: The Fed for first time supports the falling dollar. The dollar but is again under new pressure today as is far 100 pips away from the recovery point and about 100 pips away from the new record level against the euro. The Fed is necessary to make new steps to support the falling dollar otherwise we expect new record levels against the euro this week. The trading will break the level above 1.54 today again. The fundamental data from Europe continue to send positive signals and no chances for cut of the interest rates. At the same time the Fed will cut the interest rates at least twice by 50 bps to 2.00%. Also the Fed would be more aggressive with 75 bps cut and another 50 bps in April.