EUR/USD (1.5858)
European & US sessions forecast levels: 1.5800/1.6040
Trend Sessions: European: Neutral/Upward
US: Neutral/Upward
Market Focus: 8:30 AM Building Permits, Housing Starts, Initial
Claims, 10:00 AM Philadelphia Fed, 4:00 AM Italian Trade Balance.
Daily
Strategy: The situation in the US economy became worse
after the latest bank problems. The credit crisis seems much deeper than
forecasting. The bottom is not reached yet. The dollar will remain under
pressure in the coming few months. Today it is expecting new worse economic
data. The most suffering US Housing market will show new decrease today. The
dollar will move again to the record levels. The trading strategy today is to
open long positions, as buy on dips.
Forex Forecasts by FS Team
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