Morning Report

By taking a closer look at the pair's trading chart, we notice a hard breach of pivotal resistance 84.25 and in return giving off signs of an ascending channel that controls the currently bullish intraday trend, along with stochastic entering oversold areas. These factors make us hold onto expected bullish intraday direction that requires two factors to prevail; first, a clear breach of 84.25 and second trading stabilizing above 83.15.

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

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 83.15, might be appropriate.