Morning Report

The pair is fluctuating around the MA 50 is finding difficulty in resuming yesterday's suggested upside trend, due to the negative effect of stochastic. We do not expect any chances of resuming the expected intraday upside trend targeting the retest of resistance levels around 1.3750, noting the importance of observing critical levels between 1.3750 and 1.3575.

The trading range for today is among the key support at 1.3500 and the key resistance at 1.3860.

The short term trend is to the upside as far as the daily closing is above 1.2795 remains intact with targets at 1.5135.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.3640 targeting 1.3750 and stop loss below 1.3575, might be appropriate.