Morning Report

The pair's trading between the retested levels at 1.2770 and 61.8% Fibonacci levels at 1.2830andit found difficulty in breaching due to the negative sings appearing on the four-hour chart momentum indicator. Volatility is projected that might witness another touch for 1.2770 levels before the pair extend the bullish intraday trend, with targets at 1.2950, which requires a daily closing above 1.2770 - 1.2730. keeping in mind the importance of today's news from the US regarding unemployment, to be published at 12:30 GMT.

The trading range for today is among the major support at 1.2670 and the major resistance at 1.2950.

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

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.2770 targeting 1.2900 and stop loss below 1.2675 might be appropriate