Morning Report

The pair reached the awaited areas at 1.4560 and rebounded to the upside in an attempt to stabilize above 1.4600. Stochastic continues to offer negative signals that are restricting the upside move, yet in general, the stability above 23.6% and the support from the MA 50 support the expected upside move for today targeting mainly 1.4800. Our expectations require stability above 1.4455.

The trading range for today is among the major support at 1.4455 and the major resistance at 1.4800.

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

RecommendationBased on the charts and explanations above we recommend buying the pair around 1.4560 targeting 1.4725 and stop loss below 1.4455 might be appropriate