Morning Report

The euro versus dollar continues its negative pressure on pivotal support 1.4050 in an attempt to breach; however, the positive effect coming from momentum indicators is protecting this level. The bearish ongoing pressure makes us expect a bearish intraday direction, which will prevail if the mentioned support is breached to pave the way to head towards 1.3800 initially. It is vital that trading remain below 1.4195 so expectations may prevail.

The trading range for today is among the key support at 1.3800 and the key resistance at 1.4305.

The general trend is to the upside as far as 1.3480 remains intact with targets at 1.6000.

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More Technical Analysis For The Pair

RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.4050 targeting 1.3945 and stop loss above 1.4145, might be appropriate.