EUR/USD (1.2896)

European & US sessions forecast levels: 1.2730/1.3035

Trend Sessions: European: Neutral

US: Neutral/Downward

Market Focus: 8:30 AM Empire Manufacturing, 9:00 AM Net Long-Term TIC, 9:15 AM Capacity Utilization, Industrial Production, 5:00 EU HICP, HICP Core.

Daily Strategy: The euro/dollar is close to the resistance where is form a solid resistance that break above 1.2955 and 1.3035 will open the trading for levels of 1.3250. There is a lot of key economic news this week that may move the market. The trading strategy today is opening short position if the dollar not break above 1.2955 otherwise we expect to see 1.3035 and may continue to 1.3250. We recommend to use the level of1.2955 to open short or reverse if break above.