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EUR/USD trading starts flat with the Asian open today

By:

FS Team

28-01-2008

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EUR/USD (1.4670)

European & US sessions forecast levels: 1.4585/1.4780

Trend Sessions: European – Neutral

US – Neutral

Market Focus: 10:00 AM New Home Sales, 4:00 AM M3 Money Supply.

Daily Strategy: The trading start in the new business week into flat and neutral direction. The dollar will remain stable at the beginning of the week. But is expecting very dynamic movement with the forecast and expectations about the coming US recession. It is widely expecting the Fed to cut the interest rates within 9-day with probably 50 bps to 3.00%. For today the strategy that FS Team recommend is trading within the trading range.

USD/JPY (106.12)

European & US sessions forecast levels: 105.35/106.80

Trend Sessions: European – Downward/Neutral

US – Neutral/Downward

Market Focus: 6:30 PM Unemployment Rate, Overall Household Spending, 6:50 PM Large Retailers' Sales, Retail Sales.

Daily Strategy: The yen remain very strong and attractive for the traders in spite the expecting new worse fundamental data for Japan economy. The trader’s speculations will continue, as the forecast is the yen to set new record high levels against the dollar very soon. The strategy for today is to open short positions, as sell on high movement.

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