Technicals

EUR/USD (1.4594)

European & US sessions forecast levels: 1.4515/1.4660

Trend Sessions: European: Neutral

US: Neutral/Downward

Market Focus: 10:00 AM Construction Spending, ISM Index, 5:00 AM EU PPI.

Daily Strategy: The dollar continues to gain against the euro after the oil crash on the market. The oil recovered to $111 starting at the levels above $117 yesterday. The reason for the oil recovery and dollar gains is the positive news for the weather situation in the Mexican gulf. The dollar will continue to gain against the euro but is close to the time when the traders will prefer to take their profits. For today the trading strategy is trading within the trading range and try to sell on high with profit target of 35/45 pips.