Morning Report

The pair declined approaching 23.6% Fibonacci correction for the last upside wave shown above, while Stochastic unloaded the negativity seen yesterday. Therefore,we expect the intraday bullishnessto prevail today towards targets at 1.6850 and require stability above 1.6610.

The trading range for today is among the major support at 1.6525 and the major resistance at 1.6910.

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 1.6610 targeting 1.6745 and stop loss below 1.6525 might be appropriate