Morning Report

The bottom previously recorded stood at 1.0220 in front of the pair's ambition in achieving more bearish movement, due to the effect of the bearish technical pattern shown in our previous reports. Momentum indicators are showing bullish signs that may force the pair to try an attempt to move to the upside, which in it role could attack pivotal resistance 1.0330 then head towards the previously breached bullish trend at 1.0400. We recommend observing trading today, especially for the pivotal levels mentioned starting with the bottom recorded at 1.0220, crossing by the retest level 1.0330 then heading towards the bullish trend at 1.0400.

The trading range for today is among the key support at 1.0125 and the key resistance at 1.0400.

The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.

Previous Report Weekly Report

Support1.02201.01251.00801.00451.0000Resistance1.03001.03301.04001.04251.0480RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.0220 targeting 1.0125 and stop loss above 1.0280 or buying the pair with the breach of 1.0330 targeting 1.0400 and stop loss below 1.0280 might be appropriate.