Morning Report

Maintaining trading above the 20 MA on the four hour charts alongside a positive adjustment on the RSI and stochastic indicators confirm the uptrend seen on the ADX indicator. The medium and short term trends to the downside continue yet the pair is in need for an upside correction which may target 1.0800 and perhaps extend towards 1.0870 as far as 1.0625 remains intact.

The trading range for today is among the key support at 1.0425 and the key resistance at 1.0900

The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0300

RecommendationBased on the charts and explanations above, our opinion is buying the pair from 1.0700 to 1.0870 and stop loss below 1.0625 might be appropriate.