EUR/USD (1.5649)

European & US sessions forecast levels: 1.5555/1.5770

Trend Sessions: European: Neutral/Upward

US: Neutral/Upward

Market Focus: 10:00 AM Consumer Confidence.

Daily Strategy: The dollar consolidates at the current levels ahead the key FOMC meeting. It is expecting the Fed to cut the interest rates between 25 and 50 bps. Some analyzers predict last Fed interest rates cut. Still the bottom is not reached and the dollar will remain under pressure. But the traders already generate the expecting Fed decision. It is possible to see recovery of the dollar in near-term. For today we recommend trading within the trading range. The key US Consumer Confidence probably will fell again this month that will be new negative signal for the US economy.