The euro versus dollar's trading is gradually stuck within a narrow range represented in the symmetrical triangle, shown in the image above. The conformity of the mentioned triangle is currently accompanied by negative crossover signsappearing on the Stochastic, which make us expect the pair to move to the downside over an intraday basis; where its first target is at 1.4535 next 1.4475. Keep in mind the importance of trades remaining below 1.4725 to maintain chances of achieving these expectations.
The trading range for today is among the key support at 1.4475 and the key resistance at 1.4800.
The general trend is to the upside as far as 1.4135 remains intact with targets at 1.6000.
Monthly report Weekly Report
|Recommendation||Based on the charts and explanations above our opinion is selling the pair from 1.4655 targeting 1.4535 and stop loss above 1.4725, might be appropriate.|
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