Morning Report

The Euro versus Dollar pair declined within the consolidation area to trade around the pivot support at 1.4250. The stochastic indicator shows the pair being oversold, which makes us believe that the pair is to incline on the intraday basis, in an attempt to breach 1.4375 before heading towards 1.4650. Note that the NFP is on queue later today at 12:30 which may result in volatile trading.

The trading range for today is among the key support at 1.3975 and the key resistance at 1.4650

The general trend is to the downside as far as 1.4720 remains intact with targets at 1.2120

RecommendationBased on the charts and explanations above, our opinion is buying the pair from 1.4250 to 1.4375 and stop loss below 1.4145 might be appropriate.