EUR/USD (1.2896)

European & US sessions forecast levels: 1.2705/1.2990

Trend Sessions: European: Neutral/Upward

US: Neutral

Market Focus: 8:30 AM Trade Balance, 2:00 PM Treasury Budget, 2:00 AM Fermany CPI, HICP.

Daily Strategy: For a long period of time the euro/dollar is trading in the range of 1.2705 to 1.3095. These levels are very important for the further trading movements. One break of the key support will open the way for recovery of the dollar to the high of 1.2329. Otherwise the dollar may lose again with target above 1.40. The latest speculations show that the rescue plan of Obama may not cover the lending. The trading strategy today is to open long positions. The euro may gain again to the levels of 1.30.