Morning Report

The pair was able to surpass 1.3080 and build a base above it, where this breach has put the pair at the same time above SMA 50. The daily closing that has occurred above this level is considered to be an indicator on more expected bullish intraday movement, while momentum indicators are showing negative signs that remain fluctuating near the breached level before heading towards resuming bullish targets that are chiefly around 1.3365.

The trading range for today is among the key support at 1.2920 and the key resistance at 1.3365.

The short term trend is to the upside as far as the daily closing is above 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 1.3080 targeting 1.3245 and stop loss below 1.2975, might be appropriate.