Morning Report

The pair rebounded from 1.4000 according to this psychological barrier, alongside the negative momentum clearly appearing on the four hour interval. SMA 50 is offering a good support for the pair, where this support protects trading to continue within the present upside channel. We expect a bullish intraday direction, targeting an initial stability above 1.4000, then heading towards 1.4100. Note that, stability above 1.3860 - 1.3835 in order to maintain chances of resuming expectations.

The trading range for today is among the key support at 1.3835 and the key resistance at 1.4195.

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 1.3860 targeting 1.4000 and stop loss below 1.3755, might be appropriate.