Morning Report

The pair succeeded in achieving yesterday's scenario but it found a solid support around the pivotal support areas of 1.5345. Stochastic is positive, helping it to move upwards to retest 1.5510 before moving to the downside once more over intraday basis. Be careful since a break of the aforementioned level might send the pair towards 1.5710.

The trading range for today is among the key support at 1.5265 and the key resistance at 1.5650.

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 1.5345 and stop loss above 1.5625, might be appropriate.