Morning Report

The pair inclined yesterday, but as shown on the chart above the pair is still stable below the neckline of the Head and Shoulders pattern, and also below the moving averages 20 and 50, where all these signs together suggest the return of the downside movement, especially after Stochastic got rid of the positivity seen yesterday.

The trading range for today is among the major support at 1.3285 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.

**New York Candlesticks**

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above, we recommend selling the pair around 1.3650, and take profit in stages at (1.3410 and 1.3285) and stop loss with 4-hour closing above 1.3740 might be appropriate.