Morning Report

The pair found good support at 38.2% Fibonacci at 1.4155 to rebound to the upside supported by the positivity on Stochastic which is starting to gradually decline, reaching overbought areas. Trading is stable below the MA 50 and accordingly we expect the pair to resume the intraday bearishness targeting areas from 1.4040 and require stability below 1.4405.

The trading range for today is among the major support at 1.4090 and the major resistance at 1.4405.

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 our opinion is selling the pair around 1.4315 targeting 1.4155 and stop loss above 1.4405 might be appropriate