The euro versus dollar completed the correction yesterday, where it reached 61.8% Fibonacci at 1.5035 and accompanying it was the stochastic entering oversold areas, shown in the image above. We expect a rebound from this level to achieve the expected bullish intraday trend for today; targeting initially 1.5200 and require 1.5035 to stabilize first at the four hour close, secondly the breach of 1.5100 and thirdly keeping an eye out for the U.S. unemployment and economic[NFP] data, as of 13:30 GMT.
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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|Recommendation||Based on the charts and explanations above our opinion is buying the pair from 1.5035 targeting 1.5145 and stop loss below 1.4970, might be appropriate.|