European & US sessions forecast levels: 1.5605/1.5770
Trend Sessions: European: Neutral
Market Focus: 10:00 AM Michigan Sentiment-Rev, 2:00 AM German Import Price Index, M3 Money Supply.
Daily Strategy: The dollar continues to gain against the euro. The dollar was supported by the worse than expect Germany Ifo Business expectations and some comments of key economists from Europe. But the data for the US economy remain too worse. The New Home Sales for March is again with new poor result. Having a mind that the situation in the US economy remain worse and the bottom is not reached we can say that the dollar recovery is temporary. In near term we expect to see levels of 1.60 again. The potential of the dollar recovery is still few days when the tendency from this week will end.