EUR/USD (1.2845)

European & US sessions forecast levels: 1.2705/1.2990

Trend Sessions: European: Neutral/Downward

US: Neutral

Market Focus: 10:00 AM Pending Home Sales, 2:00 PM Auto Sales, Truck Sales, 2:00 AM Germany Retail Sales, 5:00 AM EU PPI.

Daily Strategy: The dollar not succeeds to break the levels below 1.27 and turn back above 1.28 and close to 1.29. The level 1.2705 is formed as key support as the break below will open the way for continues recovery of the dollar with target 1.2470. The forecast today show movement close to the current support level of EUR/USD at 1.2705. The chances for break below are high in the coming couple of days. But for today the chances for break below 1.2705 are about 20%. The traders may close short positions today and book the profit before the new attack at the levels of 1.27 and below.