Morning Report

The pivotal support areas of 1.4050 succeeded in standing against the euro versus dollar's bearish attempts and push itto the upside, achieving the awaited primary bullish correction targets at 1.4145, with persistent bullish signs appearing on momentum indicators; therefore making us expect a possible bullish correction for today, next targeting 1.4250. Once again, this points out the assurance of the breach of the 1.4050 that cancels out the possibility of a bullish correction and paves the way for more bearishness overshort term basis.

The trading range for today is among the key support at 1.3945 and the key resistance at 1.4310.

The general trend is to the upside as far as 1.3480 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 1.4100 targeting 1.4250 and stop loss below 1.4050, might be appropriate.