European & US sessions forecast levels: 1.3890/1.4165
Trend Sessions: European: Upward
Market Focus: 4:00 AM IFO Business Climate, IFO Current Conditions, IFO Expectations.
Daily Strategy: The dollar is at almost 5-months low against the euro after concerns that the United States may lose its AAA-rating status. This is one of the key reasons for the dollar losses as the investors sell dollars worldwide. Today is Memorial Day holiday in United States. The traders will not buy dollars as is possible new losses of the dollar today. The trading strategy is opening long positions, as buy on dips. There are very important data for the Germany economy today. It is possible surprises with the release of IFO data today.