European & US sessions forecast levels: 1.2390/1.2730
Trend Sessions: European: Neutral/Downward
US: Neutral
Market Focus: 10:00 AM New Home Sales, 4:00 AM German Ifo Business Climate, M3 Money Supply, Private Loans, 9:55 AM ECB President Trichet Speaks.
Daily Strategy: The dollar continues to gains against the euro in the Asian open today. The recovery will continue in the coming hours. The traders forget about the fundamentals and following the speculations. It is widely expecting the crisis from USA to come in Europe. Therefore the euro is weak while the dollar pushing strong. The one of the possible turn of this tendency is the expecting Bank of Japan act to stop the rising yen setting 13-years top against the dollar.
