European & US sessions forecast levels: 1.2805/1.3075
Trend Sessions: European: Neutral/Upward
Market Focus: 8:30 AM Initial Claims, Retail Sales, Retail Sales ex-auto, 10:00 AM Business Inventories.
Daily Strategy: The trading with the euro/dollar remains for about 12-days within the range of 1.2705 and 1.3095. The beak one of the levels will open the way for further movements to 1.24 or 1.35. In the coming hours the consolidation of Euro/Dollar will continue. If the dollar hold the levels below 1.29 at least for 12-hours the chances for break below 1.2705 rises. The very important events today like Initial Claims and Retail Sales may help to the dollar. The forecasts are for better levels of Initial Claims, but we in ForexStrategy Team expects strong rise of Initial Claims with chances for break above 700K for the last week.