European & US sessions forecast levels: 1.4205/1.4445
Trend Sessions: European: Neutral
Market Focus: 8:30 AM Initial Claims, 6:00 AM Germany Factory orders, 7:45 AM ECB interest rate announcement, and 8:30 AM ECB press conference following interest rate announcement.
Daily Strategy: Euro/Dollar continue in the consolidation ahead the key events today and Friday. The trading for over two days is in the range of 1.4355 and 1.4445. The key event today is ECB interest rates decision and the following press conference. It is not expecting significant movements till the release of ECB news today. Eventually rise of the interest rates may give extra support for the euro. We recommend trading in the short trading range till the first news at 7:45 AM today.