EUR/USD (1.3976)
European & US sessions forecast levels: 1.3510/1.4005
Trend Sessions: European: Neutral/Upward
US: Neutral/Upward
Market Focus: 3:00 PM Consumer Credit.
Daily Strategy: Although the positive U.S. jobs report on Friday the pressure over the dollar rises. The first indication come by ECB president Trichet who said that interest rates hike in the euro zone will happen soon. At the same time is not expecting interest rates correction upward by the Fed. The jump of the oil prices also is a negative factor for the dollar. The euro/dollar trading may back above 1.40 today as overall the day trading is expecting in mix directions is the forecasts by FS Team.