EUR/USD (1.3628)

European & US sessions forecast levels: 1.3480/1.3770

Trend Sessions: European: Neutral/Upward

US: Neutral/Downward

Market Focus: 8:30 AM Initial Claims, 2:00 PM Consumer Credit, 2:00 A Germany Trade Balance, Current Account, 5:00 AM EU Unemployment, 6:00 AM Germany Factory Orders.

Daily Strategy: The Euro recovery against the dollar as loses by the first business day for 2009. But the both currencies are under pressure due too the forecasts for deeper of recession in USA and the locomotive of Euro Zone, Germany. The euro will continue to gain against the dollar but we are expecting this recovery to stop in a short time. The trading strategy today is open long positions during the morning European session, fast exit and reopen short positions with expecting recovery of the dollar at the end of the day.