Morning Report

The Euro versus Dollar pair continued to trade around the pivot level at 1.4615, as it moves within a bearish channel, seen in the image above, where we expect the pair is to continue declining. We believe the pair is to decline on the intraday basis targeting 1.4500, with an attempt to breach it to reach 1.4360 as far as 1.4770 remains intact.

The trading range for today is among the key support at 1.4275 and the key resistance at 1.4845

The general trend is to the upside as far as 1.4135 remains intact with targets at 1.6000

RecommendationBased on the charts and explanations above, our opinion is selling the pair from 1.4665 to 1.4500 and stop loss above 1.4770 might be appropriate.