EUR/USD (1.2829)

European & US sessions forecast levels: 1.2660/1.2990

Trend Sessions: European: Neutral

US: Neutral

Market Focus: 10:00 AM Existing Home Sales, 2:00 AM Germany GDP.

Daily Strategy: The trading today will be mix. It is expecting movements into both directions today. The key support is formed at 1.2660. The break below the support at 1.2660 will open the way for dollar recovery to the next key support at 1.2513. The key resistance is at 1.2991. There are chances for break above that will open the dollar to lose to 1.3090. USA and Europe continue to spend and plan to spend billions of dollars and euros to help the financial system. For today the trading strategy is trading within the trading range.