Morning Report

The euro versus dollar attempted a minor bearish correction for the last bullish wave, where it reached 23.6% Fibonacci correction around 1.5050; pushing to the upside once again, in an attempt to complete the expected bullish intraday direction for today, where its next targets are around 1.5200. The stochastic shows positive reversal that supports expectations of an upside move, with the importance that, areas of 1.5005 remaining intact so chances of the awaited ascend for today may prevail.

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.

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RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 1.5095 targeting 1.5230 and stop loss below 1.5005, might be appropriate.