Morning Report

The pair declined to trade around 38.2% Fibonacci correction shown above, while Stochastic provides upside signals shown on the daily time frame. From here, our expectations for an intraday upside move remain valid for today, targeting the resistance for the descending correction channel at 1.4455, a breach of which will open the door for the pair to resume the general upside trend. Consolidation below 1.4150 could delay the awaited targets.

The trading range for today is among the major support at 1.4010 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.

Weekly Report

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RecommendationBased on the charts and explanations above we recommend buying the pair around 1.4150 targeting 1.4285 and stop loss below 1.4090 might be appropriate