EUR/USD (1.4632)

European & US sessions forecast levels: 1.4590/1.4745

Trend Sessions: European – Neutral/Downward

US – Neutral

Market Focus: 10:00 AM Leading Indicators, Michigan Sentiment-Prel. 4:00 AM ECB Monthly Bulletin, 5:00 AM EU Trade Balance, 9:00 AM ECB President Trichet Speaks, 10:00 AM Fed Chairman Bernanke Speaks.

Daily Strategy: The trading in the last day for this business week will be dominant by the rumors about the situation of US economy after the worse than expecting housing report and much better Initial Claims. As overall the key moment for the traders is what will be the Fed interest rates politic and how aggressive will act the Fed. It is necessary move below 1.4590 to continue with the dollar recovery against the euro. Otherwise the dollar will lose the recent gains.