Morning Report

The pair continues to incline without any corrections to help relieve momentum indicators, where we see the MACD is trading above the naught line proving the strength of the uptrend that is overcoming the overbought signs appearing on the stochastic indicator. All these signs make us believe trading is to be volatile, in an attempt for the pair to maintain trading above the key resistance for the last decline, which has shifted today to 1.0735. From here and cautiously, we expect an incline today as far as the 50% correction at 1.0590 remains intact and confirmed with a breakout of the mentioned resistance level.

The trading range for today is among the key support at 1.0410 and the key resistance at 1.0980

The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0000

Weekly Report Monthly Report

RecommendationBased on the charts and explanations above, our opinion is buying the pair from 1.0635 to 1.0805 and stop loss below 1.0525 might be appropriate.