European & US sessions forecast levels: 1.5135/1.5275
Trend Sessions: European â€“ Neutral/Upward
US â€“ Neutral/Upward
Market Focus: Auto Sales, Truck Sales, 5:00 AM EU PPI, GDP, 9:00 AM Fed Chairman Bernanke Speaks.
Daily Strategy: The dollar set new record in very strong euro attack at the levels above 1.52. The tendency is so strong that if the dollar weakness continue by the same way till the mid of March 2008 are expecting levels of 1.60. After this strong euro gain to new record of 1.5273 the European Central Bank president Jean-Claude Trichet, on Monday voiced concern about the dollar weakness. The dollar will continue to set new record low levels if there are not some actions and support by ECB and Fed. The expectations are for new test of record high trading levels today.