Morning Report


No more evidences that the classical falling wedge pattern has affected the pair positively than the clear long white candlestick pattern of yesterday's trading. This candle took the pair to move freely above the resistance line of the pattern. The positive signs of OsMA and Stochastic -that supported our previous analysis- are still supportingus and more bullishness is in favor. The path is cleared for reaching the technical objective around 0.8360.

The trading range for today is among the key support at 0.8140 and key resistance now at 0.8360.

The general trend over short term basis is to the downside, targeting 0.7780 as far as areas of0.8965remain intact.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is, buying the pair around 0.8235 targeting 0.8320 and stop loss below 0.8160 might be appropriate.