Morning Report

The pair touched the awaited retest level around 1.3425, accompanied by stochastic entering oversold areas. We hold onto our bullish intraday expectations due to the bullish technical pattern that has formed by breaching the highlighted level. Expected targets for today are initially around 1.3700, while pointing to stability above 1.3425 in order to maintain chances of resuming expectations.

The trading range for today is among the key support at 1.3260 and the key resistance at 1.3700.

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 1.3425 targeting 1.3625 and stop loss below 1.3310, might be appropriate.