Morning Report

The pair continues its uptrend towards the awaited retest level 1.5510, while SMA 50 adds negative pressure on the pair. Hence, our suggested scenario yesterday will remain intact, but keep in mind the importance of stabilizing below 1.5510 - 1.5565 to maintain chances of resuming expectations.

The trading range for today is among the key support at 1.5265 and the key resistance at 1.5640.

The short term trend is to the upside as far as 1.5315 remains intact with targets at 1.7000.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.5510 targeting 1.5315 and stop loss above 1.5640, might be appropriate.