European & US sessions forecast levels: 1.5775/1.5955
Trend Sessions: European: Neutral
Market Focus: 8:30 AM Durable Orders, Initial Claims, 10:00 AM New Home Sales, 4:00 AM EU Current Account, German Ifo Business Expectations Index, German Ifo Business Climate Index, 8:30 AM ECB President Trichet Speaks.
Daily Strategy: The dollar rises against the euro after the support by the European politics. At the same time the traders start profit taken that also support the dollar and move far from the record high levels of 1.6019. Today is key day for the dollar recovery. If the dollar keeps the recent gains the recovery will continue. Otherwise we can see fast movement above 1.5950 and new close trading to the records. There are very important fundamental news for Germany and United States today.