Morning Report

The bullishness yesterday was limited below 1.4205 most of the time, while we see that the downside trend's possibility is still valid till now, where the pair is stable below the previously breached critical ascending support shown in green. Therefore, we keep our negative expectations andconsolidation below 1.4150 should provide further confirmations. A four-hour closing above 1.4280 will delay our negative expectations, and negate the targets for today.

The trading range for today is among the major support at 1.3910 and the major resistance at 1.4325.

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

Previous Report

Weekly Report

Support1.41101.40851.40401.39701.3910
Resistance1.41801.42051.42801.43251.4375
RecommendationBased on the charts and explanations above we recommend selling the pair around 1.4175 and take profit in stages at (1.4085, 1.4040, and 1.3970) and stop loss with 4-hour closing above 1.4280 might be appropriate