EUR/USD (1.2497)
European & US sessions forecast levels: 1.2390/1.2815
Trend Sessions: European: Neutral/Downward
US: Neutral
Market Focus: 8:30 AM Initial Claims, 10:00 AM Leading Indicators,
Philadelphia Fed, 2:00 AM German PPI.
Daily
Strategy: The poor data for the US housing sector push the dollar to levels
above 1.28 but fast recovery during the US session. The traders predict poor
data for the Euro Zone. The Fed will probably cut the interest rates to 0.5%
based on the latest inflation report. At the same time Euro Zone probably will
necessary to cut the interest rates with about 200 bps. In
the coming days Euro-Dollar will test the levels below 1.2390 while today is
possible temporary upward correction to 1.2550/80.
Forex Forecasts by FS Team
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