Morning Report

The Euro versus Dollar pair continues to trade within a tight range since yesterday, after breaching the pivot resistance at 1.4345. Maintaining levels above 1.4300 will keep our expectations to the upside, where we still see chances of an incline on the intraday basis targeting the critical resistance at 1.4660, as the pair currently attempts to gather bullish momentum. We wait for more confirmation from momentum indicators, which are neutral; yet as far as trading is above 1.4300, the pair is to incline.

The trading range for today is among the key support at 1.3975 and the key resistance at 1.4650

The general trend is to the downside as far as 1.4720 remains intact with targets at 1.2120

RecommendationBased on the charts and explanations above, our opinion is buying the pair with the breach of 1.4345 to 1.4450 and stop loss below 1.4250 might be appropriate.