European & US sessions forecast levels: 1.3485/1.3740
Trend Sessions: European: Neutral
Market Focus: 3:45 AM France Consumer spending, INSEE Business Confidence, 4:00 AM France Flash Manf. PMI, Flash Services PMI, 4:30 AM Germany Flash Services PMI, Flash Manuf. PMI, 5:00 AM EU Current account, Flash Manf. PMI, Flash Services PMI.
Daily Strategy: The dollar remains week after the positive news for US housing sector. It€™s seems that the bottom is reached. The sales of existing home also New Home Sales rises. To confirm that the bottom is reached will be necessary at least three months. The euro/dollar consolidate at the levels of 1.35/1.37. The break of the key support at 1.3485 will push the dollar to recovery. The chances for dollar recovery are low than the chances for break above the key resistance at 1.3740. It is expecting the dollar at the levels of 1.40 in a short time.