Morning Report

The pair pushed to the upside nearing critical resistance for the intraday direction at 84.25, where stochastic is offering us positive crossover signs in line with stabilizing above SMA 50. These factors make us expect a bullish intraday trend that initially requires a clear breach of 84.25 to pave the way towards 85.00 - 85.95 levels. It is vital that 83.05 remain above in order for chances to resume these expectations to prevail.

The trading range for today is among the key support at 82.80 and the key resistance at 85.00.

The short term trend is to the downside as far as 91.55 remains intact with targets at 77.70.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 84.25 targeting 85.95 and stop loss below 83.05, might be appropriate.