Morning Report

The pair was not able to maintain its stance above the previously breached horizontal resistance at 1.3655 to return to trade within the previous sideway range. Today, there seems to be mixed trading that are mainly caused by the await for the US jobs report as of 13:30 GMT, where it makes us pay attention to trading. On the over all, we expect a bullish intraday direction where its main targets are at 1.3800, where they are supported by positive signs that appearon momentum indicators.

The trading range for today is among the key support at 1.3430 and the key resistance at 1.3800.

The general trend is to the upside if we do not witness a daily close below 1.3485 with targets at 1.5150.

Previous Report Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 1.3655 targeting 1.3800 and stop loss below 1.3585, might be appropriate.