Morning Report

The pair reached the targets awaited yesterday and broke through the minor ascending channel's resistance that carried trading from the support for the main ascending channel to it resistance. This breach is a strong indication for the resumption of the intraday bullishness for today targeting 1.6830 then the sensitive resistance at 1.7000. The negativity on momentum indicators might pressure the pair to retest 1.6675 and stability above it is the key to acquire the upside targets.

The trading range for today is among the major support at 1.6590 and the major resistance at 1.7000.

The short term trend is to the upside with steady daily closing above 1.5315 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 1.6675 targeting 1.6830 and stop loss below 1.6590 might be appropriate