Morning Report

Signs of a new upside channel organizing intraday trading have appeared for the pair after touching this channel's support level yesterday, where we expect a bullish intraday direction supported by positive signs appearing through stochastic. The awaited targets start at 1.3400 requiring stability above 1.3175 to prevail.

The trading range for today is among the key support at 1.3120 and the key resistance at 1.3520.

The short term trend is to the upside as far as 1.2795 remains intact with targets at 1.5135.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.3265 targeting 1.3400 and stop loss below 1.3175, might be appropriate.