Morning Report

The negativity appearing through stochastic is affecting the pair pushing to find strong resistance around critical levels, highlighted in yesterday's reports around 1.3860. The indicator is currently riding of negative momentum, which makes us witness some fluctuation and slant to resume some bearish movement before heading towards continuing the expected bullish intraday direction, due to the effect of the bullish technical pattern highlighted in our weekly reports - in the link below -. The first awaited target is breaching and stabilizing above 1.3860, and then paving the way towards levels 1.40000; however, note that it is vital to stabilize above 1.3715 in order to maintain chances of resuming these expectations.

The trading range for today is among the key support at 1.3715 and the key resistance at 1.4000.

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.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair with an hourly closing above 1.3860 targeting 1.4000 and stop loss below 1.3765, might be appropriate.