Morning Report

The pair declined sharply and is currently hovering around 61.8% Fibonacci of the CD leg for thebullish Bat harmonic pattern.At the same time, on the 4-hour interval,we didn't witness any4-hour closing below 1.4300, which represents the mentioned Fibonacci level. Harmonically, consolidation above the second target suggests the pattern's effect to remain strong. Stability above 1.4410 is required to confirm the upside move, while a breach of 1.4205 is a negative sign. Therefore, we will stay neutral today, awaiting more confirmations.

The trading range for today is among the major support at 1.4150 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.

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Weekly Report

RecommendationBased in the charts and explanations above we remain neutral awaiting more confirmations