Morning Report

The euro succeeded in stabilizing above the critical support that rose to 1.4445, while Stochastic lost its upside momentum which might increase the fluctuation and volatility around the support. In general, stability above this support and the SMA 50 support our expectations for an intraday bullish move today targeting areas around 1.4600. A breach and stability below 1.4445 delays the upside scenario and will push the pair south to unload the negative momentum.

The trading range for today is among the major support at 1.4300 and the major resistance at 1.4725.

The short term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

RecommendationBased on the charts and explanations above we recommend buying the pair around 1.4445 targeting 1.4625 and stop loss below 1.4375 might be appropriate