Morning Report

The euro versus the dollar continues its chain bullish pattern successfully, as noticed on the four hour chart, where a bullish technical pattern is seen and the pair managed to breach its neckline at 1.4935. From here we expect an intraday bullish movewith initial targets at 1.5050, while keeping chances of achieving a minor bearish movement that will retest through it the breached resistance level. The bullish short term direction will remain intact if 1.4835 is not breached.

The trading range for today is among the key support at 1.4725 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

RecommendationBased on the charts and explanations above our opinion is buying the pair at 1.4935 and targeting 1.5050 and stop loss below 1.4835, might be appropriate