Morning Report

The pair continues fluctuating around the resistance line for the ascending chanell that is currently ascending towards 93.55. Some awaited bearish correctionto rid of negative momentum appearing, followed by a reversal in trading and through it a bullish directionover intraday can be expected; targeting 94.50 initially. It is vital that the four-hour closing remains above 92.70 for expectations to prevail.

The trading range for today is among the key support at 92.15 and the key resistance at 94.50.

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

Weekly Report Previous Report

RecommendationBased on the charts and explanations above our opinion is buying the pair from 92.70 target 94.00 and stop loss below 92.15, might be appropriate.