Morning Report

The pair managed to strongly breach pivotal resistance 1.0500, therefore completely forming the bullish technical pattern, shown above; where it's bullish targets have not been achieved yet. The negative signs that appear through momentum indicators could pressure the pair to retest breached resistance before resuming the expected bullish intraday direction, where its upcoming targets are around 1.0645.

The trading range for today is among the key support at 1.0410 and the key resistance at 1.0645.

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

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RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0500 targeting 1.0645 and stop loss below 1.0410, might be appropriate.