EUR/USD (1.4835) – Weekly Forecast

Weekly forecast levels: 1.4685/1.4960

Trend for the week – Neutral

Market Focus: Existing Home Sales, New Home Sales, Consumer Confidence, Durable Orders, GDP-Prel.

Weekly Strategy: The dollar remains under pressure due too the poor US economic data. At the same time some positive news for the Europe Zone like the high inflation will keep the European Central Bank politic of stable interest rates. ECB is not ready to cut the interest rates while continue the inflation pressure. All prices in the whole Europe jump very strongly supported by the record oil prices. If the dollar fall against the euro above 1.4960 the crisis for the dollar will be longer and for couple of months the dollar would not back in trading below 1.50. If the dollar holds the levels below the ever time low trading against the euro it is expecting temporary recovery of the dollar during the coming week.