Morning Report

The pair is fluctuating within a tight range after the sharp downside move seen yesterday, where the chances for the downside correction are supported within the descending channel above. The stability of the descending channel's resistance and the trading below EMA 50 support the likelihood for a downside move today targeting 1.4150; breaching 1.4410 will delay those expectations.

The trading range for today is among the major support at 1.4150 and the major resistance at 1.4455.

The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

Previous Report

Weekly Report

Support1.42851.42151.41501.40901.4040
Resistance1.43751.44101.44551.44951.4545
RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.4410 targeting 1.4215 and stop loss above 1.4495 might be appropriate