Morning Report

The Euro versus Dollar pair traded calmly after reaching 1.4535 with the formation of a bearish technical pattern with a pivot support at 1.4475, as seen in the secondary image. This pattern, alongside the negative signs appearing on stochastic, may pressure the pair to correct slightly to the downside towards 1.4410 before rebounding back to the upside on the intraday basis targeting 1.4660. This incline requires the 1.4320 level to remain intact.

The trading range for today is among the key support at 1.4175 and the key resistance at 1.4725

The general trend is to the downside as far as 1.4725 remains intact with targets at 1.2120

RecommendationBased on the charts and explanations above, our opinion is buying the pair from 1.4410 to 1.4550 and stop loss below 1.4320 might be appropriate.