Morning Report

The pair continues is consecutive intraday bullish movements that support the short term bullish wave, which mainly targets 1.5040. Momentum indicators are moving around overbought areas, where we expect it to continue ascending until the mentioned target before momentum indicators pressure the pair with negativity attempt a bearish correction that might reach 1.4830, before returning to resume the upside medium term trend. From here we can expect more intraday upside movement till 1.5040 then a downside reversal towards 1.4830.For our expectations to prevail trading mustprevail below 1.5040.

The trading range for today is among the key support at 1.4690 and the key resistance at 1.5280.

The general trend is to the upside as far as 1.4135 remains intact with targets at 1.6000.

Support1.48901.48201.47701.47401.4680
Resistance1.49801.50401.51301.52051.5270
RecommendationBased on the charts and explanations above our opinion is buying the pair at 1.4890 and targeting 1.4980 and stop loss below 1.4820, might be appropriate