The ascending minor channel seen over hourly basis supports the upside movement, while today the exponential moving average 50 and the main support of the upside movement met together at 1.0475. Our positive expectations remain valid for today, but 4-hour closing below 1.0475 could negate our intraday expectations.
The trading range for today is among the major support at 1.0350 and the major resistance at 1.0765.
The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.
|Recommendation||Based on the charts and explanations above, we recommend buying the pair above 1.0475, and take profit in stages at (1.0550 and 1.0620) and stop loss below 1.0400 might be appropriate|