Morning Report

The Euro versus Dollar pair touched the key support for the short term ascending channel currently at 1.4705 as seen in the above image. The daily close above the previously breached key resistance at 1.4715 keeps the uptrend valid therefore we expect the pair is to incline on the intraday basis targeting 1.4875 as an initial target as far as 1.4650 remains intact. We may witness volatility around the mentioned support in an attempt to gather bullish momentum.

The trading range for today is among the key support at 1.4330 and the key resistance at 1.4985

The general trend is to the upside as far as 1.4135 is intact with targets at 1.6000

RecommendationBased on the charts and explanations above, our opinion is buying the pair from 1.4705 to 1.4875 and stop loss below 1.4610 might be appropriate.