Morning Report

The pair was unable to provide any closing above the bottom of point (B) of the double harmonic structure, which could support the resumption of the downside movement. But, further confirmations are required as the level of 1.5780 (bottom of point B) should remain intact through stability below 1.5680. Therefore, we remain neutral today, awaiting more confirmations regarding the pair's movement around the mentioned critical levels.

The trading range for today is among the major support at 1.5445 and the major resistance at 1.5935.

The short-term trend is to the downside as far as 1.6875 remains intact targeting 1.4225.

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Weekly Report

RecommendationBased on the charts and explanations above, we remain neutral awaiting more confirmations