Morning Report

The euro versus dollar pair's trades stabilized above the breached 76.4% Fibonacci correction at 1.5070, thus insuring the bullish short term direction. The stochastic continues its pressure on the pair, which impedes achieving the awaited targets. From here we expect more bullish movement over an intraday basis for today, where the primary target is at 1.5220. It is vital that the four hours close above 1.5070 to maintain chances of achieving an upside move for today.

The trading range for today is among the key support at 1.4860 and the key resistance at 1.5340.

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 from 1.5070 targeting 1.5220 and stop loss below 1.4980, might be appropriate.