European & US sessions forecast levels: 1.3830/1.4070
Trend Sessions: European: Neutral/Upward
Market Focus: 8:30 AM PPI, Core PPI, Retail Sales, Retail Sales ex-auto, 5:00 AM Germany ZEW (Current Conditions), ZEW (Economic Sentiment), EU Industrial production, EU ZEW (Current Conditions), EU ZEW (Economic Sentiment).
Daily Strategy: The start of the new business week almost not change the current situation. The euro slowly gains against the dollar. It is expecting the key events from Europe and United States today that may move the forex market. The US Retail Sales and Germany ZEW indicators are the key events today. The dollar may continue with the losses today as we recommend opening long positions. The key resistance is at 1.4070 as the chances for break above are minimal except the fundamental reports data are much different than the expectations.