Morning Report

Yesterday's upside move was limited below SMA 20 -coloreed in green- and we need to witness stability above this level at 77.30 to see acceleration. Stochastic suggests potential retest of 76.75 zones before overlapping positively once more. Our mixture between Elliott sequence and classical bullish probability remains valid over intraday basis as far as areas of 75.90-75.80 remain intact.

The trading range for today is among key support at 75.80 and key resistance now at 78.45.

The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is, buying the pair around 76.75 targeting 78.80 and stop loss below 75.80 might be appropriate.