Morning Report

The pair settled for 1.3422 and returned to incline, while we recognize a positive bias seen on momentum indicators, which could lead the pair to retest areas around 1.3565. The downside movement is still valid in general due to the bearish technical structure, but on the other hand, momentum indicators indicate that the pair is performing an upside correction again. But, any trading below 1.3665 supports our negative outlook to remain valid.

The trading range for today is among the major support at 1.3270 and the major resistance at 1.3665.

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, our opinion is selling the pair below 1.3515, and take profit in stages at (1.3410 and 1.3270) and stop loss with 4-hour closing above 1.3665 might be appropriate