The pivotal resistance at 1.4860 held strongly against the euro versus dollar pair's attempts to the upside, which pushed the pair to move to strongly move to the downside to touch themain support levels against around 1.4700. Momentum indicators entered oversold areas, thus giving the pair a push to the upside; where we think it will head towards attacking the mentioned resistance level, in an attempt to breach it. From here we expect a bullish trend over an intraday basis that targets primarily the breach of 1.4860 then rebound towards 1.5000. It is vital that the four-hour closing holdsabove 1.4700.
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.
|Recommendation||Based on the charts and explanations above our opinion is buying the pair at 1.4735 and targeting 1.4860 and stop loss below 1.4670, might be appropriate|