Morning Report

The pair managed to build support at 1.5450; representing a breached neckline for a bullish pattern seen on the chart above, which supports the the current upside wave's continuation. Despite the negative signals on momentum indicators and the possible fluctuation, in overall we still expect anupside intraday move for today;targeting 1.5665 and requires steady trading above 1.5380.

The trading range for today is among the major support at 1.5380 and the major resistance at 1.5665.

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

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.5450 targeting 1.5555 and stop loss below 1.5380 might be appropriate