Morning Report

The pair succeeded in touching the first main target 1.0645, while bearishly reversing to retest broken resistance of 1.0565 in an attempt to rid of negative signs appearing on momentum indicators. We still see that there are bullish technical targets that have not beenreached yet; therefore, we expect a bullish trend for today that will build a base on 1.0565 and head towards breaching 1.0645 followed by targeting 1.0700. It is vital that trading remain above 1.0500 to maintain chances of this expected bullish trend continuing.

The trading range for today is among the key support at 1.0410 and the key resistance at 1.0780.

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

Previous Report Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0565 targeting 1.0645 and stop loss below 1.0500, might be appropriate.