Morning Report

The pivotal support areas of 1.5125 strongly stood against the pair's attempts to return and resume the scenario suggested in our weekly reports. From here, we see that the expected direction for today is bullish and targets 1.5380 then 1.5475. Keep in mind that the breach of 1.5125 will weaken chances of achieving these expectations.

The trading range for today is among the key support at 1.5125 and the key resistance at 1.5475.

The short term trend is to the upside as far as 1.4850 remains intact with targets at 1.7000.

Previous Report Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.5220 targeting 1.5300 and stop loss below 1.5160, might be appropriate.