Morning Report

The pair broke through 1.6400 to continue trading ideally within the main ascending channel, signaling further intraday bullishness for today. The negative momentum pressure might cause fluctuations with a downside bias before resuming towards targets starting from 1.6585. Stability above 1.6310 is required for our expectations.

The trading range for today is among the major support at 1.6310 and the major resistance at 1.6550.

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

Previous Report

Weekly Report

Support1.64001.63101.62801.62501.6200
Resistance1.64501.65001.65851.66501.6700
RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.6400 targeting 1.6585 and stop loss below 1.6310 might be appropriate