EUR/USD (1.3984)

European & US sessions forecast levels: 1.3890/1.4195

Trend Sessions: European: Neutral/Downward

US: Neutral/Upward

Market Focus: 2:45 AM France Trade Balance, 6:00 AM Germany Factory orders.

Daily Strategy: After the China confirmation that believe in the dollar stability like world currency the dollar recovery against the major currencies. But the recovery is temporary because many traders prefer to open long positions using the good level below 1.39. The dollar loses over 100 pips and may continue losses. Several key countries like France and Russia call for fresh debate on global currency ahead of this week G8 summit in Italy. The debate for the global currency will be the main factor on the forex market this week.