EUR/USD (1.4038)

European & US sessions forecast levels: 1.3890/1.4150

Trend Sessions: European: Neutral

US: Neutral/Downward

Market Focus: 8:15 AM ADP Employment Change, 10:00 AM Construction Spending, ISM Index, 2:00 PM Auto Sales, Truck Sales, 2:00 AM Germany Retail Sales, 3:55 AM Germany Manuf. PMI.

Daily Strategy: The trading remains mixed with movements into both directions. It is expecting trading into both directions today. The situation in the world largest economy worse as the optimism is over. The latest economic data show that the bottom of the recession is not here and may need couple of months to reach. The key resistance formed at 1.4150 as the break above this level will break the current trading at the levels of 1.3890-1.4150. The key economic events today will be carefully monitoring by the traders. The worst than forecasting reports may help to the dollar recovery.