The pair fluctuated heavily in theprevious session, but tends to incline as we expected.Looking deeper atthe provided chart, we find that, the pair is stable above 1.4410, which could support the pair to consolidate above 1.4455, which represents the top of (C) point of the bullish Bat harmonic pattern, where stability above this level should support the pair to target 127.2% Fibonacciprojection of the CD leg at 1.4560. In general, our positive expectations remain valid, supported by the bullish harmonic structure. Stability above 1.4255 should support our expectations, while consolidation above 1.4365 should prove the strength of our expectations.
The trading range for this week is among the major support at 1.4255 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.
|Recommendation||Based on the charts and explanations above we recommend buying the pair around 1.4410 and targeting 1.4560 and stop loss with 4-hour closing below 1.4340 might be appropriate.|