EUR/USD (1.5597)

European & US sessions forecast levels: 1.5480/1.5705

Trend Sessions: European: Neutral/Downward

US: Neutral

Market Focus: 8:30 AM Initial Claims, 10:00 AM Leading Indicators, Philadelphia Fed, 4:30 AM German Services PMI, German Manufacturing PMI, 5:00 AM Services PMI, Italian Unemployment Rate, Manufacturing PMI.

Daily Strategy: After the Fed decision to cut the interest rates the traders believe that the US economy will start to rise. The forecasts show that the bottom in near and at the end of the year the US economy will start to push ahead. The dollar continues with the recovery against the euro. The recovery is still not so powerful and is possible new turn back at the record levels against the euro.