Morning Report

The daily candlesticks appearing on the secondary image suggests a potential bullish stick sandwich pattern where the pair has closed positively above moving averages combination. In the interim, the main four-hour chart shows how the pair succeeded in achieving consecutive closings above moving SMA 50 and SMA 100. Thereby, we keep our bullish predictions intact today; whilst a break above 78.30 will accelerate inclines, chiefly targeting 79.15, followed by 79.55. The invalidation level of this scenario resides at 76.70-76.40 zones.

The trading range for today is among key support at 76.10 and key resistance now at 79.15.

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 77.85 targeting 79.55 and stop loss below 76.70 might be appropriate.