Technical Outlook and Chart Setups:

As seen from the Daily chart view presented here, the single currency pair might be preparing for a counter trend rally soon towards the 1.4600/1.4700 mark, which is past support turned to resistance. Furthermore, the area is marked with 0.618 Fibonacci resistance level as shown here. Intermediary support remains at 1.4170/80 level while resistance starts from 1.4600/1.4700. Considring the risk/reward ratio and the possibility of a counter trend rally, it is recommended to go long at the moment (1.4241).

Trading Recommendations:

Go long now at 1.4240/45, stop at 1.4150, target 1.46/1.47.

Good Luck !