Morning Report

width=640

The pair continued the bullish move after confirming the breach of the bullish technical pattern yesterday by surpassing the neckline at 100.25, where we are currently trading near the midway towards the main target at 102.55. Negativity on momentum indicators may lead to some downside correctional attempts before heading again to resume the expected intraday bullish move , and targets start at 102.55 followed by 103.50.

The trading range for the day is expected among the key support at 100.25 the key resistance at 103.50.

The short term trend is to the downside as far as 150.00remains intact with targets at 112.00.

Previous Report

Weekly Report

Support101.00100.25100.0099.1098.50
Resistance101.80102.55103.35103.80104.25
RecommendationBased on the charts and explanations above we recommend buying the pair around 101.00 targeting 102.55 and 103.50 , stop loss below 100.25 may be appropriate.