EUR/USD (1.4293)

European & US sessions forecast levels: 1.4050/1.4445

Trend Sessions: European: Neutral

US: Neutral/Downward

Market Focus: 10:00 AM Consumer Confidence, 2:00 AM Germany GDP.

Daily Strategy: The Euro/Dollar trading is within the trading range of 1.4050 where is formed the key support and 1.4445 with the key resistance. For more than 5-weeks these key support/resistance levels are not broken. It is possible to say that the trading is consolidating at these 300 pips trading levels. The latest comments on the banking sector push the dollar closer to the key resistance level. But the chances for break above 1.4445 are minimal. We recommend trading within the trading range today.