EUR/USD (1.3858)

European & US sessions forecast levels: 1.3745/1.4010

Trend Sessions: European: Neutral

US: Neutral/Downward

Market Focus: 10:00 AM Existing Home Sales, 2:10 AM Germany GFK Consumer Sentiment, 2:45 AM France Consumer spending, 2:50 AM INSEE Business Confidence, 3:00 AM France Flash Services PMI, 3:30 AM Germany Flash Services PMI, 4:00 AM EU Flash Composite PMI, Flash Manuf. PMI, Flash Services PMI.

Daily Strategy: The dollar rises against the euro after the World Bank report for cut of world economic forecast. The global economy will decline 2.9% for 2009 that is much worse than prior forecast of 1.7% in March. The traders turn to the dollar stability as sell euros. The end of the recession is not close and may needed two years to out of the global recession. The traders will expect the key Fed report tomorrow and today€™s key economic events in Europe and United States. The trading idea today is to sell on high movements.