Morning Report

The euro versus the dollar succeeded in building its base on the awaited support yesterday, where it rebounded off the 100 MA. Signs of a bullish technical pattern appear clearly through the image above; thus, we await the breach of its neckline at 1.4985 to pave the way for the expected bullish direction over intraday basis; targeting 1.5100 and then 1.5140;the 1.4845 areas should remain intactfor the bullish expectations to prevail.

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.

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RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 1.4985 and targeting 1.5140 and stop loss below 1.4895, might be appropriate