Morning Report

The euro versus the dollar succeeded in forming the bullish technical pattern, shown in Friday's report, which managed to complete the right shoulder and then push the pair strongly to the upside, breaching the neckline at 1.4915, shown in the image above. From here we expect a bullish trend over an intraday basis for today, where its primary targets are around 1.5100 and then 1.5200. It is vital that the daily closing is above 1.4915 for the direction to prevail.

The trading range for today is among the key support at 1.4600 and the key resistance at 1.5290.

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

Monthly Report

Support1.49151.48251.47551.47001.4615
Resistance1.49701.50651.51001.51401.5200
RecommendationBased on the charts and explanations above our opinion is buying the pair at 1.4915 and targeting 1.5060 and stop loss below 1.4825, might be appropriate