Morning Report

The predicted bullish correction yesterday is facing horizontal resistance at 1.5660, forming the neckline for the minor bullish technical pattern, where we expect the pair to pressure to the upside and achieve a bullish correction, expected in our previous reports. The primary targets for this awaited ascend is between 1.5745 - 1.5845. Chances of achieving a bullish intraday direction for today will prevail if 1.5570 remains intact.

The trading range for today is among the key support at 1.5465 and the key resistance at 1.5845.

The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7200.

Previous Report Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 1.5660 targeting 1.5785 and stop loss below 1.5570, might be appropriate.