Morning Report

The pair breached 1.4365 and then the uptrend line, which controlled the pair's movement from the bottom of 1.3837 reaching the peak recorded this week at 1.4549, but 38.2% Fibonacci correction at 1.4265 stopped the pair's negative momentum. Consolidation above the mentioned level, but below 1.4365 could lead the pair to test the simple moving average 200 at 1.4165, while trading above 1.4365 could activate positivity again. Therefore, we remain neutral today awaiting more confirmations.

The trading range for today is among the major support at 1.4070 and the major resistance at 1.4455

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 remain neutral awaiting more confirmations