Morning Report

The pair is trading around the 84.25 resistance mentioned in our previous reports but till now did not stabilize above it. Stochastic provided upside signals that might support the bullishness for today which initially requires four-hour closing above the mentioned level. Areas of 83.20 must hold for the bullishness to prevail.

The trading range for today is among the major support at 82.50 and the major resistance at 85.95.

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

Previous Report

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 83.20 might be appropriate