Morning Report

The pair succeeded in achieving yesterday's suggested scenario flawlessly to trade within the sideway range between 1.5080 and 1.5230. Momentum indicators are showing negative signs that might pressure the pair to attempt some bearishness to gain enough bullish momentum to breach the sideway range 1.5230 and pave the way towards 1.5360 as a primary target. Chances of achieving the expected bullish intraday direction will remain intact as long as trading remains above 1.5080.

The trading range for today is among the key support at 1.5080 and the key resistance at 1.5360.

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

Previous Report Weekly ReportSupport1.51601.50801.50001.49551.4870Resistance1.52301.52701.53001.53601.5395RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 1.5230 targeting 1.5360 and stop loss below 1.5160, might be appropriate.