Morning Report

The pair continues the steady upside move, breaching the minor resistance that turned into support at 1.6315 supported by the SMA 50. Therefore, we expect the intraday upside move to prevail to day targeting areas from 1.6500 then 1.6585 while require stability above 1.6250.

The trading range for today is among the major support at 1.6250 and the major resistance at 1.6585.

The short term trend is to the upside with steady daily closing above 1.5315 with targets at 1.7000.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.6325 targeting 1.6500 and stop loss below 1.6250 might be appropriate