Morning Report

The sideway range continues controlling the pair's trading, where it was able to rid of the mentioned negative momentum yesterday. Therefore, we can expect resuming the bullish intraday trend supported additionally by stability above SMA 50, where technical targets start at 1.5230 in an attempt to breach it a pave the way towards 1.5400. It is vital that 1.5080 remains intact to achieve the suggested scenario.

The trading range for today is among the key support at 1.5050 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 Report

Support1.50801.50051.49551.48701.4850Resistance1.51551.52301.52701.53001.5360RecommendationBased on the charts and explanations above our opinion is buying the around 1.5080 targeting 1.5230 and stop loss below 1.5005, might be appropriate.