Morning Report

Up to this moment, the pair failed to breach the key support for the trend as the 20 and 50 MA's at 92.05 and 91.90 respectively, are still protecting the uptrend above the 38.2% correction (for the decline from 17 August to 7 October). The pair is gathering bullish momentum making us change our outlook on the intraday and short terms to the upside for some time. The stochastic and ADX indicator support our overview.

The trading range for today is among the key support at 88.15 and the key resistance at 95.00

The general trend is to the downside as far as 102.60 is intact with targets at 84.95 and 82.60

Weekly Report

Monthly Report

RecommendationBased on the charts and explanations above, our opinion is buying the pair from 92.10 to 93.15 and stop loss below 91.60 might be appropriate.