EUR/USD (1.2730)

European & US sessions forecast levels: 1.2515/1.2990

Trend Sessions: European: Neutral/Downward

US: Neutral/Downward

Market Focus: 8:30 AM GDP-Prel, Chain Deflator-Prel., 9:45 AM Chicago PMI, 10:00 AM Michigan Sentiment-Rev, 5:00 AM EU Unemployment, EU Core HICP, HICP.

Daily Strategy: The latest reports for the US economy show continue of the deeper of recession. The unemployment in the world biggest economy raises the new home sales down to a new record low level. In spite these bad news for the US economy the dollar remain stable against the euro. If the dollar continues to trade at the levels close to 1.27 in a short time we can see new dollar trading levels at 1.25. The trading strategy today is opening short position, as sell on high.