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Forex Commentary
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EUR/USD (1.4390)
European & US sessions forecast levels: 1.4205/1.4445
Trend Sessions: European: Neutral
US: Neutral/Upward
Market Focus: 8:15 AM ADP Employment Change, 10:00 AM Factory Orders, ISM Services, 3:55 AM Germany Services PMI, 4:00 AM EU Services PMI, 5:00 AM EU Retail Trade.
Daily Strategy: Euro/Dollar consolidate at the levels of 1.44 and above. The consolidation comes two days ahead the key US jobs report on Friday. If the dollar not break above 1.4445 today is possible to see temporary dollar recovery. But the traders would not stop investing into risky assets that will cause new dollar weakness. The forecasts are the euro/dollar to reach levels between 1.47 and 1.49 this month. The trading strategy today is to open long positions, as buy on dips corrections.
Forex Forecasts by FS Team
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