Morning Report

The upside move continues as the pair is stable above 23.6% Fibonacci correction and also above the main resistance of the minor downside movement. Stochastic attempts now to provide a positive crossover above the 50-point level. The upside move is expected to continue during the session today, but the level of 77.60 should remain intact in order to support our outlook to remain valid.

The trading range for today is among the major support at 76.55 and the major resistance at 79.15.

The short-term trend is to the upside as far as 75.20 remains intact targeting 87.45.

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Weekly Report

RecommendationBased on the charts and explanations above, our opinion is buying the pair around 77.85, targeting 79.15 and stop loss below 76.65 might be appropriate