EUR/USD (1.2896)

European & US sessions forecast levels: 1.2770/1.3030

Trend Sessions: European: Neutral

US: Neutral/Downward

Market Focus: 10:00 AM Existing Home Sales, Leading Indicators.

Daily Strategy: The situation in the US home sales continues to be negative. It is expecting new drop in the home sales. The dollar will be trading into both directions today. It is possible recovery to the levels where is form the key support at 1.2770. The break below will follow levels of 1.2520. The chances for break below 1.2770 are this week. Although the expecting bad news for the US economy the dollar will continue to gain against the euro.