European & US sessions forecast levels: 1.3040/1.3280
Trend Sessions: European: Upward
Market Focus: 8:30 AM Durable Orders, Durable Orders Ex-Auto, 10:00 AM New Home Sales, 4:00 AM EU Current account, Germany IFO Business Climate, IFO Current Conditions, IFO Expectations.
Daily Strategy: The euro gain continues following our forecast for levels of EUR/USD at 1.3200/3250. Some analyzers talk about the recent dollar losses are based on optimism due too the rise of Stock market. But the last fundamental reports for US Initial Claims and Existing Home Sales from yesterday show downtrend of the economy. The unemployment continue rise as the spending continue cut. The recovery of the euro is based on speculation generated by the technical analyses that will continue with the target about 1.3250. The trading strategy today is open long position.