Morning Report

Trading continues within the minor ascending channel shown above, while trading is stable above the MA 50. Therefore, we expect an intraday upside move today to test 1.6210 then 1.6305 which requires stability above 1.6045.

The trading range for today is among the major support at 1.5960 and the major resistance at 1.6310.

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 we recommend buying the pair around 1.5960 targeting 1.6130 and stop loss below 1.5880 might be appropriate