Morning Report

Respecting our bullish overview suggested yesterday and, the pair has moved steadily upwards clearing SMA 20-green- as seen on the provided daily chart. The positive signs appearing on momentum indicators in addition to bullish candlestick make us suggest bullish resumption over intraday basis. Additionally, Vortex-trend indicator- prepares for drawing a positive crossover. A break above 77.55 will actuate bulls to add more long positions.

The trading range for today is among key support at 76.10 and key resistance now at 78.30.

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 76.95 targeting 78.30 and stop loss below 76.10 might be appropriate.