EUR/USD (1.4801) â€“ Weekly Forecast
Weekly forecast levels: 1.4585/1.4915
Trend for the week â€“ Downward/Neutral
Market Focus: Factory Orders, ISM Services, Pending Home Sales, any news about the next FOMC meeting.
Weekly Strategy: The dollar had serious exam during the finished business week with test of the record high levels. After the US non-farm payrolls report the dollar was too close to set new record against the euro. But finally the new strong reverse in Non-farm payrolls report combine with low down unemployment to 4.9% from 5.0% turn the dollar into winning tendency. Many traders believe that the report for US non-farm payrolls will have strong reverse correction next month. It is strange but in the last few months the reports of the key fundamental non-farm payrolls report always has very broad mistake. In the coming week is expecting recovery of the dollar. The traders believe that the situation in the US economy is at the bottom and will start up while in Europe the problems just start. During the week we recommend opening short positions, as sell on high movement.