EUR/USD (1.4710)
European & US sessions forecast levels: 1.4630/1.4905
Trend Sessions: European: Neutral/Downward
US: Neutral/Downward
Market Focus: 10:00 AM Wholesale Inventories, 2:00 AM Germany CPI, HICP, Current Account, Trade Balance.
Daily Strategy: Although the Bernanke comments that Fed would not fast with the interest rates rise the dollar continue rising against the euro. The dollar traditionally is strong at the end of the year and duplicates the scenario by the last year-end. The concerns about the sovereign debt troubles push the investors to back to the dollar. The dollar will continue with the recovery as we recommend opening short positions today.