Morning Report

The tight range trading yesterday provided Stochastic with upside momentum as seen over four-hour basis after approaching 23.6% Fibonacci correction shown above. Those factors alongside trading within the minor ascending channel support an intraday upside move targeting 1.5000 and stability should be above 1.4750.

The trading range for today is among the major support at 1.4700 and the major resistance at 1.5150.

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 1.4795 targeting 1.4995 and stop loss below 1.4700 might be appropriate