Morning Report

The Euro versus Dollar pair declined as expected yesterday, in an attempt to target the support level 1.4400. The decline that happened formed a bearish technical pattern on the four hour charts, where we are waiting for the confirmation of the breach of the neckline at 1.4510 on the four hour charts to open the way for an intraday decline; targeting 1.4400, as an initial target and then extend towards 1.4230 as far as 1.4710 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 1.4595 to 1.4440 and stop loss above 1.4690 might be appropriate.