EUR/USD (1.3605)

European & US sessions forecast levels: 1.3425/1.3720

Trend Sessions: European: Neutral/Downward

US: Neutral/Upward

Market Focus: 2:00 AM Germany PPI.

Daily Strategy: It was widely expecting strong dollar recovery if the US housing sector report sends worse results. Yesterday the US housing sector reports was too bad but the dollar do not use the moment to gain. The signal by USA shows that the bottom of the recession is still on the way. But the dollar remains weak against the euro and may continue losses. It is possible temporary recovery of the dollar today but as overall the dollar is needed by more stimulus to take a step ahead the euro.