Morning Report

The pair managed to stabilize above the ascending channel's support once again which was previously breached for correction that ended at 23.6% correction as seen above. Stochastic is overbought which might add more volatility to retest the support that ascended now to 1.4320 before resuming the intraday upside move expected for today targeting 1.4520. Stability above 1.4320 is required for our expectations to prevail.

The trading range for today is among the major support at 1.4200 and the major resistance at 1.4580.

The short term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

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Weekly Report

RecommendationBased on the charts and explanations above we recommend buying the pair around 1.4320 targeting 1.4520 and stop loss below 1.4200 might be appropriate