Morning Report

The resistance level at 1.4990 halted further inclines yesterday for the Euro versus Dollar pair, which resulted in a downside correction to reach the 61.8% correction. This correction hit the key support for the bullish channel that the pair has been trading within, where we see positive signs on the stochastic indicator making us believe the pair is to incline on the intraday basis targeting 1.5100 as far as 1.4785 is intact.

The trading range for today is among the key support at 1.4675 and the key resistance at 1.5280

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

RecommendationBased on the charts and explanations above, our opinion is buying the pair from 1.4905 to 1.5020 and stop loss below 1.4825 might be appropriate.