European & US sessions forecast levels: 1.5865/1.5965
Trend Sessions: European: Neutral
Market Focus: 8:30 AM Initial Claims, 10:00 AM Leading Indicators, Philadelphia Fed, 4:00 AM ECB Monthly Bulletin, 5:00 AM EU Trade Balance.
Daily Strategy: Euro/Dollar will continue to move in upward direction. We are predicting the break above 1.60. The Fed, ECB, G7 and all rest banks would not stop the falling dollar if not take suitable measures. It is necessary intervention to stop the dollar otherwise we will see levels up to 1.68 even more. The euro zone inflation drives up the dollar. The European Central Bank would not cut the interest rates due too the high inflation soon. For today is expecting temporary recovery of the dollar. But is also possible test of new records today. Therefore we recommend opening long positions, as buy on dips.