Morning Report

The pair stabilized above 1.4325, the neckline for the bullish pattern shown above. This pattern, alongside the stability above the resistance for the minor downside wave -shown in red- and accordingly we favor an intraday upside move today targeting mainly 1.4595; the breach of 1.4260 areas can pressure the pair to the downside to resume the bearish correction within the descending channel shown above.

The trading range for today is among the major support at 1.4220 and the major resistance at 1.4595.

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 1.4325 targeting 1.4455 and stop loss below 1.4260 might be appropriate