EUR/USD (1.5869)

European & US sessions forecast levels: 1.5815/1.5985

Trend Sessions: European: Neutral/Upward

US: Neutral/Upward

Market Focus: 10:00 AM Existing Home Sales.

Daily Strategy: The dollar continues to trade close to the record level against the euro. Ay negative news for the US economy will push the euro to set new record against the dollar as break above the psychological levels of 1.60. The trading strategy is opening long positions, as buy on dips. The problems for USA banks will deeper for couple of months the most important news will be how deep is the recession and how much are the losses of the biggest USA banks. If the dollar falls above 1.60 against the euro we can see levels of 1.62-1.63 within a week time.