The euro/dollar is on the way to break the consolidation process with up trend

By Fs Team
12 March 2010 @ 01:41 am EDT

EUR/USD (1.3696)

European & US sessions forecast levels: 1.3455/1.3840

Trend Sessions: European: Neutral/Upward

US: Neutral/Upward

Market Focus: 8:30 AM Retail Sales, Retail Sales ex-auto, 9:55 AM Michigan Sentiment, 10:00 AM Business Inventories, 2:00 AM Germany Wholesale price index, 5:00 AM EU Industrial production.

Daily Strategy: The dollar will be set under pressure today as break a key resistance line that signal further dollar losses. The mix data from Thursday back the investors to risky assets again. The euro/dollar may rise up to 1.3840 where is the other key resistance. The chances for up trend today are higher therefore our trading strategy is to wait for a bottom of 1.3655/60 and open long positions. It is also expecting disappointed U.S. Retail Sales report today.

For more forex information, go to www.forex-strategy.com

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