European & US sessions forecast levels: 1.3915/1.4175
Trend Sessions: European: Neutral/Upward
Market Focus: 8:30 AM Retail Sales, Retail Sales ex-auto, Initial Claims.
Daily Strategy: The trading is mix as change direction every 8-10 hours. The speculations when United States will start out of the recession is the main factor moving the forex market. The speculation when the interest rates will rise is also factor dominant on the forex movements. Temporary some of the investors start profit taken but finished too fast. It is possible to say that the trading these days is much more based on technical indicators than the fundamental elements. The trading strategy today is to see new weakness of the dollar as later to see recovery of the dollar.