Morning Report

The euro versus the dollar succeeded in achieving its awaited targets of an expected bearish correction for yesterday around 1.4850, close to themain support for the bullish direction around 1.4815. Momentum indicators entered oversold areas that supports the pair's reversal to trade towards an expected bullish direction for today; through which it returns to resume the bullish short term wave and target 1.5000 then 1.5100. The daily close above 1.4815 is vital for maintaining the expected bullish direction.

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.

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RecommendationBased on the charts and explanations above our opinion is buying the pair at 1.4880 and targeting 1.5015 and stop loss below 1.4815, might be appropriate