EUR/USD (1.3967)

European & US sessions forecast levels: 1.3860/1.4050

Trend Sessions: European: Neutral/Downward

US: Neutral/Downward

Market Focus: 10:00 AM Existing Home Sales.

Daily Strategy: The dollar stopped the euro gains as still more than 48-hours the key resistance is at 1.4050. This is a key resistance level, as the break above 1.4050 will follow attack to the levels of 1.4250. If the trading does not break above 1.4050 is expecting recovery of the dollar. The signs for US economy recovery rise these days. The US Consumer Confidence report yesterday surprise the traders with very good rise. The trading strategy today is opening short positions as use the level of 1.4050, the break above will mean reverse as open long positions.