Morning Report

The pair stabilized once again above support for the previously breached descending channel - currently at 1.2275 - while signs of a bullish technical pattern appear in the minor image above could cause a bullish rebound, supported by positive signs appearing through momentum indicators. We recommend observing today's trading, espeically for support 1.2275 and resistance 1.2430 since the pair stabilizing above the last level could lead to a direct ascend reaching 1.2570.

The trading range for today is among the key support at 1.2140 and the key resistance at 1.2570.

The general trend is to the downside as far as 1.3770 remains intact with targets at 1.1700.

Previous Report Weekly ReportSupport1.23201.22751.22101.21401.2125Resistance1.22951.23401.23701.24401.2500RecommendationBased on the charts and explanations above our opinion is observing trading for the levels mentioned in the report above to be insured, might be appropriate.