Morning Report

The pair pushed upwards hitting into pivotal resistance at 89.35 and forming the suggested neckline for the bullish pattern, where we expect a bullish trend over an intraday basis that will start targeting 89.35 then head towards 90.60 mainly. The possible fluctuation could be between 89.35 and 89.70 to insure the strength of these levels. The breach of 88.60 will weaken chances of achieving these expectations.

The trading range for today is among the key support at 87.75 and the key resistance at 90.60.

The general trend is to the downside as far as 101.65 remains intact with targets at 82.60.

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RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 89.35 target 90.60 and stop loss below 88.60, might be appropriate.