EUR/USD (1.4529)

European & US sessions forecast levels: 1.4435/1.4615

Trend Sessions: European – Neutral

US – Neutral

Market Focus: 2:00 PM Treasury Budget, 5:00 AM ZEW Economic Sentiment, German ZEW Economic Sentiment.

Daily Strategy: The trading consolidates at the levels above 1.45. This consolidation during the first day of the new week was normal. For today is expecting after the starting correction into upward direction, the dollar to start to gain against the euro. But it is necessary test of the levels 1.4435/40 first to continue with the further dollar recovery. The dollar recoveries face strong resistance against the euro trend line from 20th December 2007 at 1.4309 and 22nd January 2008 at 1.4365. The break below this key trend line will open the way for further dollar recovery.