Morning Report

The Euro versus Dollar pair was able to find a strong base at the 23.6% correction at 1.4530, which resulted in a rebound to the upside to trade within a minor bullish channel, as seen in the image above. The short term trend is still to the downside, yet we expect a slight downside correction towards 1.4585 before rebounding back to the upside with enough bullish momentum to breach 1.4685, in an attempt to target levels above 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

RecommendationBased on the charts and explanations above, our opinion is buying the pair from 1.4585 to 1.4685 and stop loss below 1.4515 might be appropriate.