Morning Report

The euro versus dollar returned within the ascending channel in an attempt for some bearish correction, expected due to momentum indicators. Stochastic is entering oversold areas; therefore keeping our previous expectations of achieving a possible bullish intraday direction that will build its base on 1.4435 and initially target 1.4565 and then 1.4675. It is vital that 1.4375 remain intact for these expectations to prevail.

The trading range for today is among the key support at 1.4300 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 Previous day report

RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.4435 targeting 1.4565 and stop loss below 1.4375, might be appropriate.