European & US sessions forecast levels: 1.4040/1.4340
Trend Sessions: European: Neutral/Upward
Market Focus: 8:30 AM Initial Claims, Productivity-Rev, 5:00 AM EU Retail Trade, 7:45 AM ECB Interest Rate Announcement.
Daily Strategy: The dollar recovery against the euro yesterday. But the chances to keep the recent gains are not so high. The chance for euro fast recovery of the recent losses rises every hour. The most important event today is the ECB interest rates decision. Jean-Claude Trichet is the man who makes surprises as everything is expecting. The most expecting scenario is to leave the interest rates unchanged at 1.00%. But the comments will be more interesting that will show how ECB sees the world recession. The trading strategy today is to wait to buy on dips movement.