Morning Report

The 4-hour closing below 1.4205 negated our yesterday's expectations, and then the pair declined to reach the critical barrier at 1.4150; however, we haven't seen any closing below this level, which pushed the pair to trade again above 1.4205. We expect a possible upside move again, affected by the combination of harmonic patterns the bullish Bat and Three Drives.

The trading range for today is among the major support at 1.4035 and the major resistance at 1.4490

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

Previous Report

Weekly Report

Support1.42051.41501.40701.40351.3970
Resistance1.42501.43001.43701.44101.4490
RecommendationBased on the charts and explanations above we recommend buying the pair around 1.4225 and take profit in stages at (1.4300 and 1.4535) and stop loss with 4-hour closing below 1.4120, but in case the pair reach the stop loss point, we recommend selling the pair at 1.4120 and take profit in stages at 1.4070 and 1.4035 and stop loss with 4-hour closing above 1.4180 might be appropriate.