Midday Report

After acquiring the bearish technical pattern's targets shown above, the pair started its bullish rebound according to our weekly report this morning. From here, we expect a bullish intraday direction, which first requires the breach of 1.3670 to pave the way towards 1.3800;the expected move requires trading to remain intact above 1.3505.

The trading range for today is among the key support at 1.3505 and the key resistance at 1.3800.

The general trend is to the upside as far as 1.3485 remains intact with targets at 1.6000.

Weekly Report

RecommendationBased on the charts and explanations above our opinion is to avoid trading awaiting more confirmations for the pair’s direction, might be appropriate.