Morning Report

According to the expected scenario yesterday, the pair inclined and is currently stable between 78.6% and 61.8% Fibonacci corrections of the CD leg of the bullish Bat harmonic pattern. Consolidation above the second target, which represents 61.8% Fibonacci correction at 1.4300 could support the harmonic structure's effect to last, extending the upside movement. But, consolidation with 4-hour closing above 1.4370 is required to prove the expected upside movement.

The trading range for today is among the major support at 1.4150 and the major resistance at 1.4560

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 1.4300 and take profit in stages at (1.4410 and 1.4535) and stop loss with 4-hour closing below 1.4205 might be appropriate.