EUR/USD (1.4226)

European & US sessions forecast levels: 1.4050/1.4325

Trend Sessions: European: Neutral

US: Neutral/Upward

Market Focus: 10:00 AM Existing Home Sales, 3:00 AM France Flash Services PMI, Flash Manuf. PMI, 3:30 AM Germany Flash Manuf. PMI, Flash Services PMI, 4:00 AM EU Flash Composite PMI, Flash Manuf. PMI, Flash Services PMI.

Daily Strategy: The trading consolidates at the levels above 1.42 during the last trading day and trading night. The market waits for key news to start moving during the summer. One of the key news moving the market is the Ben Bernanke speech at a central bankers meeting. The forecast for today is slowly dollar recovery followed by new dollar losses. We recommend opening long positions, as buy on dips movement.