EUR/USD (1.5793)

European & US sessions forecast levels: 1.5730/1.5905

Trend Sessions: European: Neutral/Upward

US: Neutral/Upward

Market Focus: 8:30 AM Personal Income, Personal Spending, Core PCE Inflation, 10:00 AM Michigan Sentiment-Rev.

Daily Strategy: It is expecting poor data for US Personal Spending that is one of the key factors for the slow down of the world biggest economy. The problems with the US economy remain deep, as the traders continue to sell dollars. The dollar will make a test of 1.59 level but if not succeed will follow slowly correction down to 1.55 where will turn back again with the test of 1.59. For today the forecast is neutral trading with movements up to 1.5845/65. It is possible to test the levels of 1.59 today.