European & US sessions forecast levels: 1.5585/1.5770
Trend Sessions: European: Upward
Market Focus: 8:30 AM Chain Deflator-Final, GDP-Final, Initial Claims, 10:00 AM Existing Home Sales, 2:00 AM German Import Price Index, 4:00 AM M3 Money Supply.
Daily Strategy: The dollar again was set under pressure due too the new worse results for US New Home Sales. At the same time the Durable Orders remain at 0% rise. The Fed signal for stronger inflation but not signal for interest rates rise. The situation in US economy continues to go worse and worse. Still is too early for recovery as the recession probably will come very soon if the recession is not here already. The dollar probably will continue to fall against the euro. It is possible to see the dollar at the levels of 1.60 again. Some of the traders will try profit taken today but the tendency for today is new movement upward due too the expecting new worse results for the world biggest economy.