EUR/USD (1.2642)

European & US sessions forecast levels: 1.2555/1.2820

Trend Sessions: European: Neutral/Downward

US: Neutral

Market Focus: 2:00 PM Treasury Budget, 2:00 AM Germany PPI, Factory Orders.

Daily Strategy: The trading continues following our forecasts within the trading range of 1.24 and 1.28. The euro/dollar reached the high at 1.28 and turn down following the key support that is formed at about 1.24. The chances for break below are not high these days but is sure that the dollar will break the level 1.24 in short time. The trading strategy is to open short position today. We recommend to trade within the trading range. The latest gains on the shares market were positive signal for dollar recovery.