EUR/USD (1.5790)

European & US sessions forecast levels: 1.5720/1.5865

Trend Sessions: European: Neutral

US: Neutral

Market Focus: 9:45 AM Chicago PMI, 5:00 AM Italian Prelim CPI, CPI Flash Estimate.

Daily Strategy: The new business week start in flat trading. On Friday the euro/dollar hit 3-weeks high as Oil weights. The dollar will remain under pressure today due too the situation on the energy market where the oil is ready to set new record. Due too the worse reports by the prior week the chances the Federal Reserve to raise the interest rates is minimal, while European Central Bank signal that on July will raise the interest rates with 25 bps. For today the trading strategy is to trade in short trading range.