Morning Report


The pair reversed to the downside after reaching 61.8% Fibonacci correction, affected by the negativity of Stochastic as shown over daily basis. We expect this reversal might trigger a retest of 130.05 before continuing the intraday upside move today, targeting mainly 131.70 and 133.00, noting that a breach of 130.05 weakens the suggested positivity.

The trading range for today is among the major support at 129.00 and the major resistance at 133.00.

The short-term trend is to the downside as far as 150.00 remains intact targeting 112.00.

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Weekly Report

RecommendationBased on the charts and explanations above, our opinion is buying the pair around 130.05, targeting 131.70 and then 133.00 and stop loss with 4-hour closing below 129.55 might be appropriate