European & US sessions forecast levels: 1.3055/1.3300
Trend Sessions: European: Neutral/Upward
Market Focus: 8:30 AM GDP-Adv, Chain Deflator-Adv, 2:15 PM FOMC Rate Decision, 5:00 AM EU Business Climate, Economic sentiment, Industry sentiment, Consumer sentiment.
Daily Strategy: The dollar loses against the euro after the technical movement. The level of 1.2965 formed as strong euro support. The key resistance is at 1.3740 as is possible EUR/USD to move to that level. The most important event today is the Fed interest rates decision. It is widely expecting Bernanke to leave the key interest rates unchanged at a record low level of 0.00-0.25%. The forecast today is for EUR/USD movement above 1.3245 even higher.