EUR/USD (1.5540)

European & US sessions forecast levels: 1.5460/1.5660

Trend Sessions: European: Upward

US: Neutral/Upward

Market Focus: 8:30 Building Permits, Housing Starts, PPI, Core PPI, 9:15 AM Capacity Utilization, Industrial Production, 4:00 AM Italian Trade Balance, 5:00 AM EU Trade Balance, ZEW Economic Sentiment, German ZEW Economic Sentiment.

Daily Strategy: The dollar again falls as investors trim outlook on Fed interest rates. It is too fast to think about for new interest rates raise. The US economy is not at the bottom and the recession is possible. Today’s very important data will show it. It is expecting new decrease in US Building Permits and Housing Stats. Also it is expecting positive data for Euro Zone today. The trading strategy is to open long positions today.