EUR/USD (1.2802)

European & US sessions forecast levels: 1.2555/1.2860

Trend Sessions: European: Neutral/Downward

US: Neutral/Downward

Market Focus: 8:30 AM Initial Claims, Retail Sales, 10:00 AM Retail Sales ex-auto, 10:00 AM Business Inventories, 5:00 AM EU PPI, 6:00 AM Germany Industrial Production.

Daily Strategy: The euro/dollar reached to the key resistance following by speculations. The traders wide to a maximum the trading range to be able to open short positions these days. If the euro breaks above 1.2860 the latest trading range will be break as the trading levels may exceed 1.30 in a short time. The most expecting scenario is recovery of the dollar to the levels of 1.24/1.2450 till the end of the week. The trading strategy today is opening short positions.