Morning Report

The euro versus dollar pair was close to achieve the awaited target since yesterday at 1.4860 and return to move to the downside due to the pressure from the bearish signs from momentum indicators; also including the 100 MA, shown in the image above. We still see chances of achieving more upside movement for today, in an attempt to breach pivotal resistance at 1.4860 and head above 1.5000. Thus, we can expect a bullish trend over an intraday basis for today that requires the pair to close above 1.4720 for it to prevail.

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.

Monthly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair at 1.4755 and targeting 1.4860 and stop loss below 1.4680, might be appropriate