Morning Report

The EUR/USD pair inclined yesterday that enabled it to breach the resistance of the downside channel that controls the bearish trend since last month starting from the peak of 1.4280. This breach in addition to the presence above SMA 50 makes us expect a bullish intraday direction with targets starting around 1.3365 where its achievement requires the pair to remain above 1.3185.

The trading range for today is among the key support at 1.3000 and the key resistance at 1.3460.

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

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.3185 targeting 1.3365 and stop loss below 1.3080, might be appropriate.