Morning Report

Trading is still caught between the 61.8% and 76.4% Fibonacci correction, as the pair struggles to reach the bearish pattern's targets mentioned in our previous report. Stochastic provided positive signals support theintraday upside move today;the upside move requiresb breaching 1.6455 and stability above 1.6300.

The trading range for today is among the major support at 1.6210 and the major resistance at 1.6525.

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

Previous Report

Weekly Report

Support1.63001.62501.62101.61751.6110
Resistance1.63851.64551.65251.65751.6610
RecommendationBased on the charts and explanations above we recommend buying the pair with hourly closing above 1.6455 targeting 1.6610 and stop loss below 1.6385 might be appropriate today