We congratulate all Veterans of all last wars on the Great Holiday - Victory Day! We also congratulate all our readers on this sacred holiday. Our generation must never see horrors of war our fathers and grandfathers had to face.

So, on a background of quite low activity in Forex before the important events, and also at absence of significant publication of economic data in the USA, intensive profit-taking on earlier open long-term dollar "shorts" begun.

Let's remind that though the majority of experts expect increase of a level of interest rates in the USA in FOMC meeting on the nearest Wednesday, however everybody is interested in comments of Committee members on results of the meeting.

Moreover the market’s participants expect the publication of the US Treasury message, planned at 20:00 GMT, about a situation in Forex. Experts assume that if the given message contains an appeal to China to liberalize completely the foreign exchange market the situation in the market of the Asian currencies can change strongly.

As a result, having designated correction on a background of fixing of dollar sales, the market while has found the European demand before a level of 1.2660 on the euro/dollar rate, and a zone of sales at a level of 1.2315 on dollar/franc rate. However the situation in the market can change sharply right after the stated events.

Therefore we recommend, while keeping a waiting position, to adhere to the previous recommendations. Thus recommendations both for short-term players, and for long-term ones hold good.