European & US sessions forecast levels: 1.4825/1.5060
Trend Sessions: European: Neutral/Upward
Market Focus: 10:00 AM Existing Home Sales, 2:45 AM France Consumer Spending, 3:00 AM France Flash Manuf. PMI, Flash Services PMI, 3:30 AM Germany Flash Manuf. PMI, Flash Services PMI, 4:00 AM EU Flash Composite PMI, Flash Manuf. PMI, Flash Services PMI, Germany IFO Business Climate, Germany IFO Current Conditions, Germany IFO Expectations, 5:00 AM EU EU Ind. new orders.
Daily Strategy: The Euro successfully holds the gains against the dollar. The tendency for weak dollar continues as everyday we see new record low level of the dollar. The dollar will continue to fall against the euro as may reach too fast the levels of 1.54 that probably will be not the end level. There are a lot of key fundamental events for the Euro Zone today. The news are expecting as signal for the end of the recession that also will support the euro. The trading strategy today is to open long positions again.