The pair ended yesterday's session positively, while Bollinger bands indicator squeezes; as trading continues to be narrow. A breach of this range among 0.9900-1.0050 is what required for a directional move. In general, we hold onto our bullish expectations we discusses earlier, as momentum indicators are providing a bullish divergence in addition to the falling wedge formation.
The trading range for the day is expected among the key support at 0.9890 and the key resistance at 1.0070.
The short term trend is to the upside targeting 1.0650 with steady daily closing above 0.9900.
|Recommendation||Based on the charts and explanations above, we recommend buying the pair around 0.9950 targeting 1.0070 and 1.0150, stop loss daily closing below 0.9890.|