Morning Report

The Euro's incline slowed down yesterday, as it maintained trading near the 100 MA at 1.4600, which increases the possibility for further declines once again making us hold onto our outlook to the downside on the intraday basis targeting 1.4390 for today. The decline remains as far as 1.4720 is 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 with the breach of 1.4600 to 1.4475 and stop loss above 1.4680 might be appropriate.