Morning Report

The pair barely moved since yesterday, trading within a narrow range since the start of the week, where trading continue to be confined within the falling wedge pattern, and above 0.9890 level. RSI and Stochastic are attempting to gather bullish momentum. In general, we hold onto our bullish expectations for the pair.

The trading range for the day is expected among the key support at 0.9850 and the key resistance at 1.0080.

The short term trend is to the upside targeting 1.0650 with steady daily closing above 0.9900.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above, we recommend buying the pair around 0.9890 targeting 1.0000 and 1.0080. Stop loss below 0.9825.