European & US sessions forecast levels: 1.3040/1.3410
Trend Sessions: European: Neutral/Downward
Market Focus: 8:30 AM Trade Balance, 2:00 PM Treasury Budget.
Daily Strategy: The dollar continues gain against the euro due too expecting interest rates cut in the Euro Zone. The European Central Bank will cut the key interest rates at least with 50 bps to 100 bps. Due too the deeper of the recession in the Euro Zone, ECB will cut more than 50 bps. The trading strategy today is opening short positions. The dollar may gain to the levels of 1.30 even to break below this week.