Morning Report

The pair found good support around 1.3240 rebounding positively offered by stochastic. We expect yesterday's suggested bullish technical pattern to still be forming; therefore, the breach of 1.3425 will help this pattern complete it then pave the way in front of the expected bullish intraday direction, initial targets start at 1.3625. It is vital that stability is above 1.3165 are factors that will help it validate chances of resuming expectations.

The trading range for today is among the key support at 1.3165 and the key resistance at 1.3625.

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 1.3245 targeting 1.3425 and stop loss below 1.3165, might be appropriate.