Morning Report

The pair reached the support for the ascending channel organizing the current wave as shown above, while Stochastic provided oversold signals. Therefore, we expect and intraday upside move today targeting 1.4800 then 1.4880 and requires stability above 1.4560; where this level's importance is for its stance as a neckline for a proposed bearish pattern under formation.

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.

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Weekly Report

RecommendationBased on the charts and explanations above we recommend buying the pair around 1.4585 targeting 1.4800 and stop loss below 1.4455 might be appropriate