EUR/USD (1.5843)

European & US sessions forecast levels: 1.5750/1.5905

Trend Sessions: European: Neutral/Upward

US: Neutral/Upward

Market Focus: 8:30 AM Initial Claims, Trade Balance, 2:00 PM Treasury Budget, 2:45 AM French Industrial Production, 4:00 AM Italian Industrial Production, 7:45 AM Interest Rate Announcement, 8:30 AM ECB President Trichet Speaks, 12:00 PM Fed Chairman Bernanke Speaks.

Daily Strategy: The dollar starts new serious losing against the euro on speculations that ECB is not ready to cut the interest rates. Today is very important day for the US economy important speaks of Trichet and Bernanke. The dollar is close to the record low level against the euro. If todays news are worse for the US economy and ECB confirm the signal for not cutting interest rates the dollar could set new record against the euro.