Morning Report

The pair traded positively after the decline recorded yesterday, and now approaching the MA 50 alongside Stochastic losing the upside momentum. In general, we expect the pair to move to the downside today due to trading within the downside correctional channel shown above targeting 1.4215 then 1.4150; breaching areas of 1.4390 will delay the targets.

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.

Morning Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.4390 targeting 1.4215 and stop loss above 1.4495 might be appropriate