EUR/USD (1.2862)

European & US sessions forecast levels: 1.2705/1.2990

Trend Sessions: European: Neutral

US: Neutral/Downward

Market Focus: 10:00 AM Wholesale Inventories.

Daily Strategy: The euro fell against the dollar after the news for a needed of $400 billions loan for the Russian banks. The financial situation in Europe is worsening. The Russian banks may request for that help the European Banks. At the same time the optimism for the plan for recovery of the world largest economy became higher. The first EUR/USD support is at 1.2810, as the break below will follow to the next key support at 1.2705. There are not key economic events today therefore the traders will focus over the Obama plans and speculations. The trading strategy today is to open short position, as sell on high movement.