Morning Report

Holding above 1.5030,poweredthe pair to reach the vital resistance at 1.5135, however, the pair requires more bullish momentum to achieve this level and head towards levels that are more bullish. We see that momentum indicators show overbought signs which make us believe that the pair could slightly correct to the downside to retest the suggested neckline for the bullish technical pattern at 1.5050 - 1.5035, then we expect to enter a new bullish wave. The bullish direction over intraday basis requires 1.4935 to remain intact.

The trading range for today is among the key support at 1.4805 and the key resistance at 1.5315.

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

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RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.5050 targeting 1.5215 and stop loss below 1.4970, might be appropriate