Morning Report

The euro versus dollar is still dominated by calm trades that maintain the suggested scenario in yesterday's report intact until now. (Click here for yesterday's reports). From here, we expect a bullish intraday direction building a base on 1.4355 in an attempt to achieve the bullish technical pattern previously shown, where initial technicaltargetsreside around 1.4500. It is vital that 1.4295 remain intact to achieve the expected bullish trend.

The trading range for today is among the key support at 1.4215 and the key resistance at 1.4570.

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

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RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.4355 targeting 1.4500 and stop loss below 1.4260, might be appropriate.