Morning Report

The pair has been trading with an upside bias since yesterday, affected by the positivity on Stochastic that was mentioned before, while the pair approached the retest of 23.6% Fibonacci from below. This level resides with the MA 50, which adds more strength to this resistance and forces the pair to the downside. In case of the downside reversal, the bearish pattern mentioned in our weekly report was completed and now we await the intraday confirmation from the pair. We recommend observing trading today around the critical areas at 1.4325 support -proposed neckline- and the resistance at 1.4455.

The trading range for today is among the major support at 1.4285 and the major resistance at 1.4600.

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 observing trading today awaiting more confirmations