EUR/USD (1.5516)

European & US sessions forecast levels: 1.5455/1.5585

Trend Sessions: European: Neutral/Upward

US: Neutral/Upward

Market Focus: 3:30 AM ECB President Trichet Speaks, 4:00 AM Services PMI, 5:00 AM EU PPI.

Daily Strategy: The dollar not succeeds to keep the gains by the prior week. The euro continues to gain slowly against the dollar. The forecast remain that EUR/USD will be trading again close to 1.60 in near-term. The speculations that European Central Bank will hold the interest rates unchanged continue. The new oil record yesterday also pushes the dollar to lose again. The trading strategy is to open long positions, as buy on dips. In spite the last positive fundamental news for the US economy the dollar will remain under pressure.