Morning Report

The pair succeeded in breaching mentioned resistance yesterday, nearing the first main target around 1.3800. Momentum indicators are showing negative signs that might pressure the pair to bearishly correct; whereas we expect an overall bullish intraday that will start when 1.3800 is breached targeting levels around 1.3920 then 1.4000. It is vital that the four-hour closing remain above 1.3670 to maintain chances of achieving these expectations.

The trading range for today is among the key support at 1.3625 and the key resistance at 1.4000.

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

Previous Report Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the from 1.3720 targeting 1.3875 and stop loss below 1.3625, might be appropriate.