EUR/USD (1.5682)
European & US sessions forecast levels: 1.5585/1.5770
Trend Sessions: European: Upward
US: Neutral/Upward
Market Focus: 8:30 AM Chain Deflator-Final, GDP-Final, Initial Claims, 10:00 AM Existing Home Sales, 2:00
AM German Import Price Index, 4:00 AM M3 Money Supply.
Daily Strategy: The dollar again was set under pressure due
too the new worse results for US New Home Sales. At the same time the Durable
Orders remain at 0% rise. The Fed signal for stronger inflation but not signal for
interest rates rise. The situation in US economy continues to go worse and
worse. Still is too early for recovery as the recession probably will come very
soon if the recession is not here already. The dollar probably will continue to
fall against the euro. It is possible to see the dollar at the levels of 1.60
again. Some of the traders will try profit taken today but the tendency for
today is new movement upward due too the expecting new worse results for the
world biggest economy.
Forex Forecasts by FS Team
