Morning Report

Despite the upside bias seen yesterday, still the daily closing was below 23.6% Fibonacci correction that resides with the MA 50 at 1.4455. This delays the confirmations for the next intraday move for the pair and we can see Stochastic unloading the negative momentum which supports the return to the upside move once again. Therefore, we remain neutral for today and observe trading around the critical areas between 1.4325 and 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.

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Weekly Report

RecommendationBased on the charts and explanations above we recommend observing trading today awaiting more confirmations