Morning Report

The euro versus dollar stabilized above 1.4400 accompanied by overbought signs through momentum indicators that might force the pair toactivate minor bearish correction, to rid of these negative signs before resuming the bullish direction. We expect a bullish direction for today that targets first 1.4520 and then attempts to breach it to open the way towards 1.4600 - 1.4650. However, it is vital that 1.4345 remain intact so chances of achieving these expectations may prevail.

The trading range for today is among the key support at 1.4220 and the key resistance at 1.4675.

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

Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.4375 targeting 1.4520 and stop loss below 1.4305, might be appropriate.