European & US sessions forecast levels: 1.3830/1.4070
Trend Sessions: European: Neutral
Market Focus: 8:30 AM CPI, Core CPI, Empire Manufacturing, 9:15 AM Capacity Utilization, Industrial Production, 2:00 PM FOMC Minutes, 5:00 AM EU HICP (F), HICP - Core (F).
Daily Strategy: The euro made a technically recovery close to the levels of 1.40. At these levels following the chart couple of days earlier we can say that Euro/Dollar is in process of consolidation at the levels close to 1.40. The trading consolidates at the current level expecting the key reports from United States. The inflation report, Industrial Production and FOMC minutes are on focus today. The trading strategy is to trade in a short range till the first news at 8:30 AM today as after that is possible movements on the market.