EUR/USD (1.5516)

European & US sessions forecast levels: 1.5415/1.5620

Trend Sessions: European: Neutral

US: Neutral

Market Focus: 8:30 AM Export Prices ex-ag., Import Prices ex-oil, Retail Sales, Retail Sales ex-auto, 10:00 AM Business Inventories.

Daily Strategy: New speculations against the dollar started. The traders speculate that Fed have to cut the interest rates again to boost the US economy. The forecast of FS Team is another Fed interest rates cut with 25 bps or with 50 bps. The Fed will stop with the interest rates at 1.5% when will be necessary to start raise the interest rates due too the high inflation. The world economy and especially United States is in starting recession. Far at the end of 2008 we can see raising growth and stronger dollar. For today we expect temporary recovery of the dollar and new movement upward.