EUR/USD (1.4132)

European & US sessions forecast levels: 1.4050/1.4325

Trend Sessions: European: Neutral/Downward

US: Neutral/Upward

Market Focus: 2:00 AM Germany PPI, 4:00 AM EU Current Account,

Daily Strategy: After positive news for the dollar recovery again follow dollar sells. The key support at 1.4050 remains as strong level. The chances for break below 1.4050 remain but not high. There are a lot of investors ready to open long positions using the key support level of 1.4050. The dollar fell against the euro and the majors as U.S. stocks rebounded amid stronger than expected profit reports. For today the trading strategy is to use the key support at 1.4050 to open long positions. If the trading breaks below 1.4050 then we recommend reversing and opening short positions.