European & US sessions forecast levels: 1.4745/1.4950
Trend Sessions: European â€“ Neutral/Upward
US â€“ Neutral/Upward
Market Focus: 4:00 AM Italian Industrial Production, 5:00 AM EU Industrial Production.
Daily Strategy: The dollar is on the way to test the record levels of 1.4950, a record low dollar levels since November 2007. The expectation for cutting of US interest rates is the main news moving the dollar at these low levels against the euro. The speculations continue with full force and the traders believe that Fed will cut the US interest rates between 25 and 50 bps. The trading strategy today is to open long positions, as buy on dips.