Morning Report

The pair succeeded in consolidating above 1.3590 to start the intraday upside move mentioned yesterday. A slightly downside correction might be seen due to negative momentum present over four-hour basis. In general, we expect an upside move today targeting mainly 1.3800 and requires 1.3500 to remain intact.

The trading range for today is among the major support at 1.3500 and the major resistance at 1.3800.

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

RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.3590 targeting 1.3700 and stop loss below 1.3500, might be appropriate