EUR/USD (1.4808)

European & US sessions forecast levels: 1.4730/1.4875

Trend Sessions: European – Neutral/Upward

US – Neutral

Market Focus: 2:45 AM French Consumer Spending, 4:00 AM Services PMI, Manufacturing PMI, 5:00 AM Industrial New Orders.

Daily Strategy: The dollar was hurt again by negative US fundamental data. The release of Philadelphia Fed was one of the main reasons for the fall of the dollar above 1.48 against the euro. The fears about the US recession come back again. The US economic growth signals are very poor. The dollar is again under pressure and close to the record levels against the euro. The pressure against the dollar will continue today.