Morning Report

The pair succeeded in achieving yesterday's suggested targets flawlessly ending at pivotal resistance 1.4850. Keep in mind that the minor image above show that the four hour closings are all above support for the current ascending channel; therefore pointing to the bullish wave prevailing. The stochastic is showing bearish signs could put negative pressure on the pair, where some fluctuation is expected in overall as we await the bullish intraday direction; targets mainly start at 1.4930 - 1.4960 and requires achieving stability above 1.4730.

The trading range for today is among the key support at 1.4730 and the key resistance at 1.5010.

The short term trend is to the downside as far as 1.5590 remains intact with targets at 1.3800.

Previous Report Weekly Report

Support1.48151.47701.47301.46901.4635Resistance1.48501.49301.49601.50101.5075RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 1.4850 targeting 1.4960 and stop loss below 1.4770, might be appropriate.