EUR/USD (1.5770)

European & US sessions forecast levels: 1.5690/1.5860

Trend Sessions: European: Neutral

US: Neutral/Upward

Market Focus: 10:00 AM Pending Home Sales, 2:00 AM German Trade Balance, 4:30 AM Sentix Investor Confidence, 12:30 PM ECB President Trichet Speaks.

Daily Strategy: The dollar is again under pressure and close to the record trading levels against the euro after the huge unemployment rate jump to 5.5%. The data on Friday was real surprise, as the traders predict raise of unemployment rate up to 5.2%. The ECB president Trichet also send strong signals to support the euro. The pressure over the dollar causes the oil raise of almost $18 per day. For today is possible temporary recovery of the dollar but as overall we will see new attacks against the weak dollar.