Morning Report

The pair closed yesterday above the SMA 50, where we also have signs of a minor ascending channel organizing the intraday wave. We preserve our expectations for a bullish intraday move targeting 83.50, while the breach of the 81.30 might delay the move and drive the pair towards 80.75-20.

The trading range for today is among the major support at 80.25 and the major resistance at 83.50.

The short term trend is to the downside as far as 89.35 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 around 81.75 targeting 83.50 and stop loss below 80.75 might be appropriate