EUR/USD (1.5818)

European & US sessions forecast levels: 1.5725/1.5895

Trend Sessions: European: Neutral/Upward

US: Neutral

Market Focus: 8:15 AM ADP Employment, 10:00 AM Factory Orders, 3:15 AM ECB President Trichet Speaks, 5:00 AM EU PPI.

Daily Strategy: The dollar remains weak against the euro and slowly continues to the record levels above 1.60. After very long time waiting for European Central Bank interest rates raise finally tomorrow ECB will hike the interest rates. It is widely expecting ECB to raise the interest rates with 25 bps and to signal that is necessary new interest rates rise. The ECB will raise the interest rates due too the high inflation in the Euro Zone and probably will be necessary new interest rates rise. For today we recommend opening long positions, as buy on dips.