Morning Report

The pair succeeded in achieving yesterday's suggested scenario surpassing the first target of 1.4960 to touch 1.5000. Some kind ofbearish correction is expected due to the negativity appearing on momentum indicators to retest the minor resistance at 1.4935 before heading towards resuming the expected bullish intraday trend. Targets will start at 1.5120 then 1.5190.

The trading range for today is among the key support at 1.4870 and the key resistance at 1.5120.

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

Previous Report Weekly Report

Support1.49351.48701.48201.47701.4730Resistance1.50001.50401.51201.51901.5245RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.4935 targeting 1.5040 and stop loss below 1.4870, might be appropriate.