European & US sessions forecast levels: 1.3795/1.4050
Trend Sessions: European: Neutral/Upward
Market Focus: 8:30 AM GDP, 9:45 AM Chicago PMI, 9:55 AM Michigan Sentiment-Rev, 2:00 AM Germany Retail Sales, 5:00 AM EU Flash HICP, Unemployment.
Daily Strategy: The positive USA data do not succeed to help to the dollar. Some bad signals for the situation in the Euro Zone also do not help to the dollar. The starting recovery of the dollar on Thursday is over. The euro/dollar trading is close to the key resistance at 1.4050 as the break above will means new upward trend with target at 1.4250. The chance for such movement above 1.4050 rises. The traders do not prefer the dollar stability as continue to trade risky. The trading strategy is to wait for break of 1.4050 today. If not break above reverse as open short positions.