EUR/USD (1.5704)

European & US sessions forecast levels: 1.5650/1.5775

Trend Sessions: European: Neutral

US: Neutral

Market Focus: 10:00 AM Wholesale Inventories, 4:00 AM EU GDP,

Daily Strategy: The trading consolidates at the levels of 1.5700 during the Asian session. The traders expect new key fundamental events to come back into active trading. The Euro/Dollar is in broad consolidation at the levels of 1.55/1.59. These levels are key for the current consolidation process. The forecast is that in the coming couple of days the trading will remain in these levels. The break in one of both levels will stop the consolidation and follow new movements. At the moment the dollar and the euro are under pressure due too expecting spread of US recession over the European economy. For today we recommend trading within the trading range.