European & US sessions forecast levels: 1.5315/1.5465
Trend Sessions: European: Neutral/Downward
Market Focus: 8:30 AM Trade Balance, 2:00 AM German WPI, 5:00 AM German ZEW Economic Sentiment, ZEW Economic Sentiment.
Daily Strategy: The US dollar remains under pressure in early Asian trade on credit concerns. The dollar already one business day and half not set new records against the euro is a sign that the trading week will remain with neutral trading of Euro Dollar. The dollar but is again under new pressure after the yesterday record oil prices at $108. Technically the dollar has to break below 1.5315 the key support level. If we see levels below 1.5315 the recovery of the dollar will continue otherwise reverse and open long positions.