Morning Report

Trading stabilized below the critical support at 1.4150 as the bearishness halted near the 50% Fibonacci correction due to the positivity on Stochastic. This positivity might push the pair to retest the mentioned support before resuming the intraday downside move for today targeting 1.3910 and 1.3800. Stability below 1.4150 keeps our expectations valid.

The trading range for today is among the major support at 1.3800 and the major resistance at 1.4235.

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

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above we recommend selling the pair around 1.4150 targeting 1.3980 and stop loss above 1.4235 might be appropriate