EUR/USD (1.3917)

European & US sessions forecast levels: 1.3840/1.4060

Trend Sessions: European: Neutral/Upward

US: Neutral

Market Focus: 10:00 AM Construction Spending, 2:00 PM Auto Sales, Truck Sales.

Daily Strategy: The dollar will move into both directions today. The key support is at 1.3940. The break below will mean further recovery of the dollar. The chances for such a break are minimal. It is important day; today is the first real business day for 2009. The tendency will be dominant on the trading today. The dollar may fall above 1.4040 today. The trading strategy today is opening long positions, as buy on dips. If the dollar breaks below 1.3940 reverse the position.