EUR/USD (1.5181) – Weekly Forecast

Weekly forecast levels: 1.5030/1.5490

Trend for the week – Neutral/Upward

Market Focus: Fed interest rates politic, Oil prices, ISM Index, ISM Services, Factory Orders, Fed’s Beige Book, Pending Home Sales, Unemployment Rate, Non-farm payrolls.

Weekly Strategy: The dollar continues to lose against the euro setting new records almost every day of the last week. The fears for the recession in the world biggest economy, together with the poor economic results, the record oil prices push the dollar to levels of 1.52. The weakness of the dollar will continue in the coming business week. It is very important business week with key fundamental reports. Although it the dollar generate some of the worse scenario, but it seems that the scenario will be much worse. The trading strategy of FS Team is opening long positions and expects new record low levels of the dollar.