The Euro versus Dollar pair was able to rebound from 1.4515 to maintain trading around 1.4600. There still are chances for an incline today towards 1.4675, where we expect a slight downside correction from these levels to take the pair to 1.4560 â€“ 1.4490. We will watch the price action carefully after the correction to determine the pair's trend, yet we believe it is to continue the short term trend towards 1.5000. The incline remains as far as 1.4360 is intact.
The trading range for today is among the key support at 1.4330 and the key resistance at 1.4865
The general trend is to the downside as far as 1.4725 remains intact with targets at 1.2120
|Recommendation||Based on the charts and explanations above, our opinion is selling the pair from 1.4675 to 1.4560 and stop loss above 1.4765 might be appropriate.|