European & US sessions forecast levels: 1.4380/1.4545
Trend Sessions: European â€“ Downward/Neutral
US â€“ Neutral
Market Focus: 10:00 AM Wholesale Inventories, 2:00 AM German Trade Balance, 6:00 AM German Industrial Production, Composite Leading Indicators.
Daily Strategy: The dollar up against the yen after Trichet press conference yesterday. The euro suffer after the European Central Bank president Jean-Claude Trichet words that euro zone growth risks are to the downside, paving the way for lower interest rates this year. The traderâ€™s focus today is over the coming G7 meeting during the weekend in Tokyo. The todayâ€™s strategy is opening short positions, as sell on high movement. The recovery of the dollar will continue, as is necessary break below 1.4405 and then 1.4365 to continue with the recovery.