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EUR/USD may recovery to 1.5550 if not succeeds above 1.59
By: FS Team - 05-04-2008
0votesEUR/USD (1.5737) – Weekly Forecast
Weekly forecast levels: 1.5585/1.5905
Trend for the week – Neutral/Upward
Market Focus: Pending Home Sales, FOMC Minutes, Trade Balance, Treasury Budget, ECB and Fed to cut the interest rates.Weekly Strategy: The speculations whether ECB will cut the interest rates with 25 bps in the coming couple of months and how much will act Fed will be on focus in the coming week. At the same time the dollar remain under new pressure close to the record levels against the euro. The forecast this week is to make new try for attack of 1.59 and if not break we will see recovery down to 1.5550/5600. It is expecting very dynamic trading week. We recommend open long positions and close if not break above 1.59 reverse with target down to 1.56.
Next Analysis: USA and Europe suffering by credit crisis
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