Morning Report

The pair reversed to the upside to end yesterday above the critical support at 1.4170. We did not attain confirmations for the next move for the pair, as trading remains caught between the mentioned support and the retest for the ascending channel's breached support; we also have conflicting signals on momentum indicators and accordingly we remain neutral today and await for more confirmations on the next move.

The trading range for today is among the major support at 1.4020 and the major resistance at 1.4455.

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

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Weekly Report

RecommendationWe recommend observing trading today to insure the upcoming direction.