European & US sessions forecast levels: 1.3455/1.3840
Trend Sessions: European: Neutral/Upward
Market Focus: 8:30 AM Retail Sales, Retail Sales ex-auto, 9:55 AM Michigan Sentiment, 10:00 AM Business Inventories, 2:00 AM Germany Wholesale price index, 5:00 AM EU Industrial production.
Daily Strategy: The dollar will be set under pressure today as break a key resistance line that signal further dollar losses. The mix data from Thursday back the investors to risky assets again. The euro/dollar may rise up to 1.3840 where is the other key resistance. The chances for up trend today are higher therefore our trading strategy is to wait for a bottom of 1.3655/60 and open long positions. It is also expecting disappointed U.S. Retail Sales report today.