The tournament favourites are looking to regain their momentum after being beaten by Pakistan in their last outing.
With Bangladesh having pulled off a shock win over South Africa in their opening match, Morgan said the hosts were taking nothing for granted in a match they are expected to win.
"It is going to be a difficult game. They are a good side. I think people underestimate them. We certainly don't," Morgan told reporters on Friday during training.
Morgan said Bangladesh have a strong batting line up at the top of the order while their spinners can cause all sorts of problems for opposing teams.
Morgan said England would be ready for anything Bangladesh can throw at them, including the possibility of an opening spin attack as seen during their previous two games which yielded quick wickets.
"Mystery spin is a new challenge. Bangladesh will open with spin, definitely," said Morgan.
Morgan also did not rule out the possibility of including Liam Plunkett as an extra fast bowler as previous wickets at Sophia Gardens in Cardiff were greener and seamer-friendly.
Both teams have won one of their two games to date in the 10-team round-robin format.
(Reporting by Saikat Chatterjee; editing by Pritha Sarkar)
