Morning Report

The pair continues fluctuating near the pivotal resistance at 1.2985 -61.8% Fibonacci- where trading is taking a form near the symmetrical triangle; therefore, we expect a bullish intraday trend that will start after a clear breach of the mentioned resistance targeting 1.3060 then 1.3165. The bullishness remains valid as far as stability is seen above 1.2890 - 1.2860.

The trading range for today is among the key support at 1.2810 and the key resistance at 1.3165.

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

Previous Report Weekly ReportSupport1.29101.28601.28101.27801.2740Resistance1.29851.30251.30901.31651.3190RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 1.2985 targeting 1.3095 and stop loss below 1.2890, might be appropriate.