Morning Report


Classically speaking, the pair succeeded in breaching the bearish channel and couldn't close below the resistance level of the major bearish direction. Overbought signs are appearing on indicators, but a positive sign isappearing on moving averages. Thus, fluctuated actions could occur but the allover direction might be bullish over intraday basis as far as 142.00 remain intact.

The trading range for today is among key support at 141.20 and key resistance at 146.20.

The general trend over short term basis is to the downside, targeting 126.80 as far as areas of 150.75 areas remain intact.

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RecommendationBased on the charts and explanations above our opinion is, buying the pair from 143.35 targeting 146.20 and stop loss below 142.05 might be appropriate.