EUR/USD (1.3908)

European & US sessions forecast levels: 1.3745/1.4010

Trend Sessions: European: Neutral/Downward

US: Neutral

Market Focus: 4:00 AM Germany IFO Business Climate, IFO Current Conditions, IFO Expectations.

Daily Strategy: The dollar started the new business week with slightly recovery against the euro. There are a lot of key economic events for the US economy on Tuesday, Wednesday and Thursday. For today the most important events are Germany IFO reports. The dollar recovery may continue today but as overall it is not expecting serious movements. The trading strategy today is to wait for IFO report at 4:00 AM that may break the current situation with new direction.