Morning Report

The pair was taken towards our yesterday's detected support of 77.60 assisting Stochastic to overlap positively as seen on the provided four-hour graph. All what we need now is to witness a sustained breakout above the initial resistance of 77.80 to make sure that the correction from 78.30 has been completed and the pair is on its way to resume the bullishness started at 76.55 which represents our risk limit.

The trading range for today is among key support at 76.55 and key resistance now at 79.55.

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

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is, buying the pair around 77.60 targeting 79.55 and stop loss below 76.65 might be appropriate.