Morning Report

The pair was mixed yesterday and it was good to remain neutral, while Stochastic continued to provide positive sings over daily basis. Trading today opened sharply higher pushing the pair above the SMA 50 which resides with the minor resistance shown above. In general, we expect an intraday upside move today supported by Stochastic, and requires the clear breach of 1.4280 and stability above 1.4150.

The trading range for today is among the major support at 1.4120 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.

Previous Report

Weekly Report

Support1.42351.41501.41201.40501.3980
Resistance1.42801.43601.44551.45001.4545
RecommendationBased on the charts and explanations above we recommend buying the pair with hourly closing above 1.4280 targeting 1.4455 and stop loss below 1.4150 might be appropriate