Morning Report

The pair continued it's upwards pressure forming a bullish technical pattern with a neckline at 1.3775. Momentum indicators are showing overbought signs that could cause some fluctuation before resuming the expected bullish short term trend; targets are around 1.3900 - 1.3920. It is vital that trading remain above 1.3680 to achieve these expectations.

The trading range for today is among the key support at 1.3485 and the key resistance at 1.3920.

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

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RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.3775 targeting 1.3900 and stop loss below 1.3680, might be appropriate.