Morning Report

The Euro versus Dollar pair was able to reach the expected targets yesterday after rebounding from support levels near 1.4705. As we see in the above image, the pair is completing a bullish technical pattern with a neckline at 1.4860 where a breakout will take the pair to the upside on the intraday basis targeting levels above 1.5000. The stochastic indicator is pressuring the pair and may stall inclines yet the uptrend remains as far as 1.4750 remains intact.

The trading range for today is among the key support at 1.4600 and the key resistance at 1.5035

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

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RecommendationBased on the charts and explanations above, our opinion is buying the pair with the breach of 1.4860 to 1.5000 and stop loss below 1.4750 might be appropriate.