European & US sessions forecast levels: 1.3910/1.4195
Trend Sessions: European: Neutral/Upward
Market Focus: 8:30 AM Building Permits, Housing Starts, 5:00 AM EU Trade balance.
Daily Strategy: The risk appetite is the moving factor on the forex markets. The traders forget about the dollar stability and continue trading risky as buy euros. The dollar closes the next key resistance at 1.4195 as the break above may follow levels at 1.4330. We are expecting new tries for test of 1.4165 and then 1.4195. We recommend opening long positions, as buy on dips. The US Housing report today is also very important to show whether the recession deeper or the investors see optimism.