Morning Report

The pair inclined in attempts to confirm the breakout of themaindescending channel and consolidation above the exponential moving averages 20 and 50 again. Stochastic is within overbought areas, but RSI is currently biased to the upside, approaching overbought areas. Consolidation above the level of 1.2830 suggests an upside move today, but stability above 1.2875 is required to confirm that suggested move. A breach of 1.2795 and consolidation below it could negate our bullish scenario.

The trading range for today is among the major support at 1.2665 and the major resistance at 1.3160.

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

**New York Candlesticks**

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Weekly Report

RecommendationBased on the charts and explanations above, our opinion is buying the pair around 1.2830, and take profit in stages at (1.2955 and 1.3045) and stop loss with 4-hour closing below 1.2795 might be appropriate today