Morning Report

The pair rebounded after nearing the minor downside channel support level appearing above, which are considered signs since some expected intraday upside to revisit this channel's resistance around 1.3645 before insuring that trading continues within the channel or breach the bullish trend on the short term. We continue observing that pair's trading today through intraday letters as we receive signs that insure the upcoming direction.

The trading range for today is among the key support at 1.3365 and the key resistance at 1.3715.

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 with the intraday closing above 1.3530 targeting 1.3645 and stop loss below 1.3455, might be appropriate.