Morning Report

The euro versus dollar pair attempted to achieve more bullish movements yesterday evening, where the pair faced resistance levels that could possibly form a resistance line of a bearish channelchannel that might prevent it from upside resumption as shown in the image above. On the other hand, we expect to see some fluctuations that could gain enough bullish momentum to support the ascending process and then breach the resistance at 1.4905 and head towards the next target around 1.5000. The direction expected for today is bullish; it will prevail if 1.4755 remains intact.

The trading range for today is among the key support at 1.4600 and the key resistance at 1.5135.

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 at 1.4805 and targeting 1.4905 and stop loss below 1.4755, might be appropriate