Morning Report

The euro versus dollar's trading was wedged between new support 1.4945 and the psychological resistance 1.5000 as well, the image shows the move clearly. We still see that the expected short term andintraday direction is bullish and will start with the breach of 1.5000; supported by a clear bullish technical pattern appearing in thesecondary image, where webelieve it to push the pair to the upside. The next target is around 1.5100 - 1.5140, while keeping in mind that the bullish direction requires the daily close to remain above 1.4900.

The trading range for today is among the key support at 1.4800 and the key resistance at 1.5200.

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 with the breach of 1.5000 targeting 1.5140 and stop loss below 1.4900, might be appropriate.