The pair moved strongly to the upside yesterday breaching critical resistance areas and most importantly 1.000 psychological barrier followed by 1.0100. This upside move confirms the return of trading ideally within the main ascending channel shown above, signaling that the pair will resume the intraday upside move today. Some fluctuations and volatility is expected today due to the negative signals on momentum indicators and the pair might retest areas of 1.0085 and maybe extend towards 1.0025 before moving towards targets that start from 1.0290.
The trading range for today is among the major support at 0.9910 and the major resistance at 1.0375.
The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.
|Recommendation||Based on the charts and explanations above we recommend buying the pair around 1.0085 targeting 1.0290 and stop loss with four-hour closing below 1.0000 might be appropriate|