Morning Report

The pair is fluctuating within a narrow range since yesterday around the pivotal levels 1.3590 that has rid of negative momentum through it that were clear on the four-hour chart. The current positive momentum encourages us to expect a bullish intraday direction; first requiring surpassing 1.3590 to mainly head towards 1.3800. This awaited ascend requires 1.3495 to remain intact.

The trading range for today is among the key support at 1.3495 and the key resistance at 1.3700.

The short term trend is to the downside as far as 1.4410 remains intact with targets at 1.2450.

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RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 1.3590 targeting 1.3700 and stop loss below 1.3495, might be appropriate.