Morning Report

The MA 50 was able to support the pair yesterday to reverse to the upside supported by the overbought signs over four-hour basis. Trading stabilized above the breached neckline for the bullish pattern shown above and accordingly we hold onto our expectations for a bullish intraday move today which requires the clear breach of 1.4495 and stability above 1.4440.

The trading range for today is among the major support at 1.4325 and the major resistance at 1.4640.

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 1.4440 targeting 1.4585 and stop loss below 1.4340 might be appropriate