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EUR/USD will test the record at 1.5902 this week

By:

FS Team

2008-27-03

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EUR/USD (1.5806)

European & US sessions forecast levels: 1.5730/1.5905

Trend Sessions: European: Neutral/Upward

US: Neutral/Upward

Market Focus: 8:30 AM Chain Deflator-Final, GDP – Final, Initial Claims.

Daily Strategy: After positive Germany Ifo climate the euro jump close to the record from the prior week. The other factors that push the euro so high are the results for US economy. The housing slumps continue to set new lows. At the same time is talking about that ECB have to cut the interest rates but still it is a rumor. The euro will test the record level of 1.5902. If not succeed the chances for new test in April are high. For today the trading strategy is opening long positions, as buy on dips.

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