EUR/USD (1.4691)

European & US sessions forecast levels: 1.4640/1.4825

Trend Sessions: European – Neutral/Upward

US – Neutral/Upward

Market Focus: 8:30 AM Initial Claims, 10:00 AM Wholesale Inventories, 2:45 AM French Government Budget Balance, French Industrial Production, 7:45 AM Interest Rate Announcement, 8:30 AM ECB President Trichet Speaks, 1:00 PM Fed Chairman Bernanke Speaks.

Daily Strategy: The most important news today is the expecting ECB interest rates decision. It is expecting ECB to hold the interest rates unchanged but to signal for increase of the interest rates soon. Trichet will support the euro. ECB politic is to support the euro as strong as possible and on today’s speaks Trichet will signal for new interest rates rise in near term. We recommend for today to open long positions.