EUR/USD (1.5578)

European & US sessions forecast levels: 1.5485/1.5665

Trend Sessions: European: Neutral/Upward

US: Neutral

Market Focus: 8:30 AM Average Workweek, Hourly Earnings, Non-farm Payrolls, Unemployment Rate, 10:00 AM Wholesale Inventories, 3:00 PM Consumer Credit, 2:45 AM French Government Budget Balance, French Trade Balance, 6:00 AM German Industrial Production.

Daily Strategy: The dollar fell against the euro after ECB president Trichet support the euro by the high inflation in the Euro Zone. Trichet signal that is ready to raise the interest rates. The pressure over the dollar comes by the raise of oil prices that raise break 8 dollars per day. The pressure over the dollar will remain today if the key reports for the non-farm payrolls and unemployment rate show worse than expecting results. It is expecting the unemployment rate to rise due too the starting problems in the US jobs market.