Morning Report

The Euro versus Dollar pair inclined to reach the target around 1.5020 before reversing to the downside affected by the bearish signs on the stochastic indicator. We believe this decline is only a correction that shouldn't pass 1.4940 as it should rebound on the intraday basis to target 1.5120 – key resistance for the bullish channel -. This incline remains valid as far as 1.4805 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 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 1.4940 to 1.5080 and stop loss below 1.4860 might be appropriate.