European & US sessions forecast levels: 1.4215/1.4585
Trend Sessions: European: Neutral/Downward
Market Focus: 10:00 AM Construction Spending, ISM Index, 2:00 AM Germany Retail Sales, 3:50 AM France Manufacturing PMI, 3:55 AM Germany Manufacturing PMI, 4:00 AM EU Manufacturing PMI.
Daily Strategy: The dollar started the New Year with recovery. The recovery of the dollar is based on trader’s hopes for recovery of U.S. jobs market. The trader hopes that the bottom of Unemployment Rate is reached. The dollar may continue with the recovery as the trading strategy in the first business day for 2010 is to open short positions as sell on high corrections.