EUR/USD (1.2997)

European & US sessions forecast levels: 1.2825/1.3085

Trend Sessions: European: Neutral

US: Neutral

Market Focus: 8:30 AM Building Permits, Housing Starts, Initial Claims.

Daily Strategy: The dollar made fast recovery against the euro yesterday. During the last US session follow profit taken as the traders close the open positions this week. It is expecting worse report for the situation of US housing sector. The Obama plans for economy recovery focus over the trading expectations for delay. The trading will remain with movements into both directions today. The trading strategy today is to use the key support/resistance levels. The dollar may fall to levels above 1.31 today but is also possible fast recovery down to 1.29 even lower.