Morning Report

Key support 1.5525 maintained its stance in front of the pair and thereby pushing it to the upside helping the bullish momentum appearing yesterday. Stochastic is showing overbought signs as the RSI is moving around oversold areas; thus causing some fluctuation for the pair. In overall, we expect bullish intraday trend targeting initially the strength of resistance levels between 1.5810 - 1.5845. Keep in mind that breaching 1.5525 will cause chances of an ascending to fail; breaching 1.5650 is critical to make the pair's upside movement easier.

The trading range for today is among the key support at 1.5385 and the key resistance at 1.5845.

The short term trend is to the upside as far as 1.5315 remains 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 around 1.5650 targeting 1.5845 and stop loss below 1.5525, might be appropriate.