EUR/USD (1.5825)

European & US sessions forecast levels: 1.5710/1.5915

Trend Sessions: European: Neutral/Upward

US: Neutral/Upward

Market Focus: 5:00 AM ECB President Trichet Speaks.

Daily Strategy: After the Friday recovery of the dollar the traders see the levels close to 1.57 as very attractive for opening of new long positions. There are not clear signals how G7 will help to the losing dollar. The dollar will remain under pressure, as the oil prices continue to set new records day after day. There are not key economic events today. It is expecting flat movements on the market. The trading strategy is to open long positions, as buy on dips. The forecast show that EUR/USD will test the levels above 1.60 again.