EUR/USD (1.4715)
European & US sessions forecast levels: 1.4670/1.4905
Trend Sessions: European: Neutral
US: Neutral/Downward
Market Focus: 8:30 AM Initial Claims, Continuing Claims, Trade Balance, 2:00 PM Treasury Budget, 2:00 AM Germany Wholesale price index, 2:50 AM France Industrial Production, 4:00 AM ECB release monthly bulletin, Italy Industrial Production, 5:00 AM Italy GDP.
Daily Strategy: The Euro/Dollar trading is in consolidation process at the levels of 1.4670 and 1.4780. The today’s focus of the traders is will be over Initial Claims that became very important event because the jobs market is the factor for economy recovery. The Friday’s jobs report was positive as the traders expect better data for Initial Claims this week. The trading strategy today is to use the key support/resistance levels to open short and long positions.