European & US sessions forecast levels: 1.4050/1.4445
Trend Sessions: European: Neutral/Downward
Market Focus: 8:30 AM Initial Claims, 10:00 AM ISM Services, 3:55 AM Services PMI, 4:00 AM EU Services PMI, 5:00 AM EU Retail Trade, 7:45 AM EU ECB interest rate announcement, 8:30 AM ECB press conference following interest rate announcement.
Daily Strategy: There are some positive signs for recovery of the U.S. economy. The positive news for U.S. economy causes dollar losses against the euro. The focus today is over the European Central Bank interest rates decision. It is widely expecting ECB to leave the interest rates unchanged at 1.00% but the press conference following the interest rates decision is very important. ECB probably closer to the time when will start with the interest rates rise. The trading strategy today remains trading within the trading range of 1.4050 and 1.4445 as is possible to see closer to the key resistance level today.