We haven't witnessed any 4-hour closing below the support level at 1.3515, while the pair rebounded to the upside after reaching this level to confirm that the breach of the main resistance of the downside trend is still affecting the pair positively and changed the trend over intraday basis. Stochastic is positive over 4-hour basis, while MACD is reflecting some kind ofpositivity. All those factors together argue usto expect an upside movement today as long as the pair is stable above 1.3515.
The trading range for today is among the major support at 1.3220 and the major resistance at 1.3840
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 1.3600, and take profit in stages at (1.3690 and 1.3740) and stop loss with 4-hour closing below 1.3515.|