Midday Report

The euro versus the dollar is trading within a relatively narrow range since this morning, while noticing the downside minor channel organizing the pair's correctional descend, shown in the image above. Our morning expectations remain intact, while we await the pair to base upon 1.4410 to support the intradayupside move for today; targeting firstly 1.4660. It is vital that 1.4320 remains intact for the expected upside move to prevail.

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