European & US sessions forecast levels: 1.4495/1.4615
Trend Sessions: European â€“ Neutral
US â€“ Neutral
Market Focus: 8:30 AM Initial Claims, Trade Balance, 2:00 AM German GDP, 2:45 AM French GDP, 4:00 AM ECB Monthly Bulletin, 5:00 AM EU GDP, 10:00 AM Fed Chairman Bernanke Speaks, 12:30 PM ECB President Trichet Speaks.
Daily Strategy: The traders were surprise by strong US Retail Sales, but in spite that fact the dollar not succeed to gain. The recovery against the Euro was very weak and during the late US session the trading back at the levels below the news for the strong US Retail Sales. For today the key fundamental news for the US economy is the Trade Balance while the traderâ€™s focus is over the key speaks of Bernanke and Trichet. Still the key resistance is at 1.4613, as the break above will signal the end of the dollar recovery.