EUR/USD (1.5794)

European & US sessions forecast levels: 1.5750/1.5915

Trend Sessions: European: Neutral/Upward

US: Neutral/Upward

Market Focus: 8:30 AM CPI, Core CPI, Housing Starts, Building Permits, 9:15 AM Industrial Production, Capacity Utilization, 2:00 PM Feds Beige Book, 2:00 AM German CPI, 4:00 AM Italian Trade Balance,

Daily Strategy: Today is very rich economic day. It is expecting very important economic events for the world biggest economy. The traders focuses are over the inflation report and at the same time at 8:30 AM the situation in US housing sector. The dollar continues to trade close to the record low levels against the euro. If the reports are worse we can see attack of the levels above 1.59 today. The trading strategy is opening long positions today.