EUR/USD (1.4701)

European & US sessions forecast levels: 1.4655/1.4825

Trend Sessions: European – Neutral

US – Neutral/Upward

Market Focus: 10:00 AM Pending Home Sales, 3:00 PM Consumer Credit, 5:00 AM EU Retail Sales, 6:00 AM German Factory Orders.

Daily Strategy: There are two key factors movement the trading these days. The first is the expectations for Fed interest rates cut and the second the US inflation. Most of the traders speculate between the news as predict new high inflation that would not allow to the Fed to cut the interest rates. At the same time the forecasts that US economy will go into recession are higher. It is expecting consolidation process in EUR/USD trading today. It is necessary break below 1.4655 to continue with the dollar recovery.