Morning Report

After touching resistance level for the ascending channel yesterday; the euro versus dollar pair started its awaited descend towards thestrong support at 1.4260, accompanied by oversold signs appearingon momentum indicators. We expect some sideway fluctuation attempting to gain enough bearish momentum to support expectations of achieving a bearish intraday; targeting 1.4100 and requires trades to remain below 1.4385.

The trading range for today is among the key support at 1.4100 and the key resistance at 1.4460.

The general trend is to the upside as far as 1.4035 remains intact with targets at 1.6000.

Monthly Report Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.4325 targeting 1.4100 and stop loss above 1.4425, might be appropriate.

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