Morning Report

The pair is fluctuating heavily between 1.3650 from downside and 1.3825 from the upside. In fact, consolidation within the top of point (C) of the Crab harmonic pattern and the 127.2% Fibonacci extension of the CD leg of the mentioned pattern drive us to remain neutral today, especially that a bearish technical structure may be forming within these levels if the pair continues to consilidate below 1.3650; however this structure could turn into a bullish continuation pattern in case the pair breaches 1.3825-50.

The trading range for today is among the major support at 1.3565 and the major resistance at 1.4010.

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