Morning Report

The euro versus dollar stabilized below thebroken support areas of 1.4905, where it fluctuated in a way that freed it from the stochastic's positive signs that had appeared on after a chain of bearish movements. The chain of closings below thementioned support and awaited negative signs from the stochastic; make us expect a bearish intraday direction for today that targets main support 1.4740 once again, and requires 1.4905 to remain intact and come in below it in the four hour closing.

The trading range for today is among the key support at 1.4680 and the key resistance at 1.5015.

The general trend is to the upside as far as 1.4135 remains intact with targets at 1.6000.

Monthly report

RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.4860 targeting 1.4740 and stop loss above 1.4945, might be appropriate.