Morning Report

The pair declined again today after reaching around 1.3690 yesterday to trade within critical levels now, where these levels include 38.2% Fibonacci correction of the CD leg of the bullish Bat harmonic pattern. This level is at 1.3525 and followed by the support level at 1.3515, awaiting the pair's movement around this level to specify the pair's next path, where consolidation above this support suggests a return of positivity, while failure to consolidate above this level could trigger a downside wave, targeting levels between 1.3460 and 1.3430 at least. Therefore, we remain neutral today, awaiting further confirmations regarding the pair's movement around the mentioned support level.

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.

Previous Report

Weekly Report

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