Morning Report

The pair is unable to surpass the resistance level at 1.2795, where we cannot see any 4-hour closing above this level since the start of this week. But, the pair is still stable above the exponential moving averages 20 and 50 around 1.2745, while Stochastic provides a positive crossover above the 50-point level. These factors suggest that the pair could provide another bullish attempt today. The pair faces two technical barriers; the first one is the descending main resistance level at 1.2840, followed by the level of 1.2875. The upside move could be limited unless the pair was able to breach these levels. Our positive expectations require consolidation above 1.2665 with a daily closing.

The trading range for today is among the major support at 1.2535 and the major resistance at 1.2955.

The short-term trend is to the downside with steady daily closing below 1.3145 targeting 1.2220.

**New York Candlesticks**

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above, our opinion is buying the pair around 1.2740, and take profit in stages at (1.2840 and 1.2955) and stop loss with 4-hour closing below 1.2665 might be appropriate today