Morning Report

The pair rebounded to the upside after reaching areas around 1.3680, to confirm the continuous effect of the bullish Crab harmonic pattern. This move could trigger a test of levels around 1.3825 again, where 4-hour closing above this level could trigger a bullish wave towards 1.4010. A breach of 1.3680 with consolidation below it could delay the upside move.

The trading range for today is among the major support at 1.3565 and the major resistance at 1.3970.

The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

Previous Report

Weekly Report

Support1.37501.37101.36651.36101.3565
Resistance1.8251.38401.38801.39101.3970
RecommendationBased on the charts and explanations above, we recommend selling the pair around 1.3750, and take profit in stages at (1.3825 and 1.3910) and stop loss with 4-hour closing above 1.3680, or selling the pair around 1.3825 and take profit in stages at (1.3620 and 1.3565) and stop loss with 4-hour closing above 1.3750 might be appropriate.