European & US sessions forecast levels: 1.5360/1.5545
Trend Sessions: European: Neutral
Market Focus: 8:15 AM ADP Employment, 8:30 AM Productivity-Rev., 10:00 AM ISM Services, 4:00 AM EU Services PMI, 5:00 AM EU Retail Sales.
Daily Strategy: After Bernanke speaks yesterday the dollar successfully breaks below key support levels. The recovery of the dollar was based on the Bernanke words that would not allow new dollar weakness. At the same time the focus over the inflation and interest rates differences between United States, Euro Zone and Japan indicate that the Fed is finished with the interest rates cut. The dollar gains almost 200 pips against the Euro during the morning US session. Today the recovery would not be so huge as is necessary break below 1.5411 first. If the dollar breaks below the levels of 1.5411 we can see levels of 1.5360.