Morning Report

The pair pushed upwards to near the initial target highlighted in yesterday's report around 1.4440, while stochastic is showing a bullish trend although it entered overbought areas that could cause some fluctuation for some time. In overall, we expect the bullish intraday trend as targets start around 1.4500 then 1.4625. Stability is above 1.4280 is vital to insure that this does not postpone resuming targets.

The trading range for today is among the key support at 1.4280 and the key resistance at 1.4580.

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 above 1.4460 targeting 1.4625 and stop loss below 1.4350, might be appropriate.