The pair was unable yesterday to breach the critical support for the upside trend as shown above. Stochastic attempts to turn positive, while RSI 14 is moving sideways, relieving the negativity seen on the indicator. In result, stability above the critical support of the upside trend lead us to hold onto our positive expectations. But, a breach of 1.3910 with 4-hour closing, could force the pair to decline sharply.
The trading range for today is among the major support at 1.3840 and the major resistance at 1.4365
The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.3910.
|Recommendation||Based on the charts and explanations above we recommend buying the pair around 1.4025, and take profit in stages at (1.4150 and 1.4255) and stop loss with 4-hour closing below 1.3910 might be appropriate.|