The euro failed to battle with the dollar for new record. The result of the fail to break above 1.4960 was recovery of the dollar to levels below 1.48. The new week will be a week of speculation news that will send new negative signals to the dollar and U.S. economy. There are strong interest of many investors and banks to keep the dollar as low as possible. The traders expect the key ISM Services on Tuesday, as is expecting reading above the key level of 50 where levels up means continue expanding of the economy. The consensus forecast is for level of 53.0. The key trading at the high levels of 1.4860/1.4940 is the strong resistance where many traders are ready to sell in expectation for recovery of the dollar. The chances for euro gains against the dollar are minimal. It is expecting recovery of the dollar in the coming week. But the break above 1.4960 will be critical for the dollar stability in the coming couple of months.
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