Morning Report

The pair reversed to the downside after reaching areas around the resistance level at 1.3515, but by looking at the chart above, we find the pair is stable above the exponential moving averages 20 and 50. These moving averages provided a positive crossover, while MACD is positive, yet Stochastic is negative. Therefore, we expect the upside move to continue, but at the same time heavy fluctuations and maybe a downside correction are possible, affected by the negativity seen on Stochastic.

The trading range for today is among the major support at 1.3145 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

**New York Candlesticks**

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above, our opinion is buying the pair around 1.3415, and take profit in stages at (1.3515 and 1.3695) and stop loss with 4-hour closing below 1.3315 might be appropriate today