Morning Report

The pair succeeded in breaching 1.2935 and headed to the upside butit isnot able till now to stabilize above 61.8% Fibonacci around 1.2990. Momentum indicators are showing negative signs that might force the pair to attempt a minor bearish correction to retest the broken resistance before heading towards achieving the expected bullish intraday trend that targets 1.3165 initially. It is vital that stability is achieved above 1.2835 toactivate these expectations.

The trading range for today is among the key support at 1.2835 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 ReportSupport1.29351.28901.28351.27751.2730Resistance1.29901.30301.30651.30901.3165RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.2935 targeting 1.3065 and stop loss below 1.2835, might be appropriate.