Morning Report

The pair was forced into attempting some minor bearish corrections to help stochastic exit overbought areas it has been witnessing since yesterday. Currently, positivity has returned to the stochastic and is supporting the harmonic formation for the pair that will make us expect a bullish direction that may affect the pair today. The breach of 1.0205 will quicken the suggested bullish trend, where evident targets are shown in the image above.

The trading range for today is among the key support at 1.0000 and the key resistance at 1.0275.

The short term trend is to the downside as far as 1.1095 remains intact with targets at 0.9910.

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RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0180 targeting 1.0295 and stop loss below 1.0080, might be appropriate.