EUR/USD (1.5392)

European & US sessions forecast levels: 1.5335/1.5505

Trend Sessions: European – Upward

US – Neutral/Upward

Market Focus: 8:30 AM Non-farm payrolls, Unemployment Rate, Hourly Earnings, Average Workweek, 3:00 PM Consumer Credit, 6:00 AM German Industrial Production, Composite Leading Indicators.

Daily Strategy: The dollar loses average by 100 pips everyday against the euro. Having a mind the key fundamental data today are not excepted lose of 200 pips of the dollar today. There is absolutely nothing support for the dollar and with every turning back with 20-40 pips many traders open massive long positions in expectations for new record dollar levels. The recession in USA is already a fact and the traders sell every dollar. For today the strategy is to open long position again expecting new record levels hour after hour.