Morning Report

The pair succeeded yesterday in achieving a positive daily closing above the key resistance level of 81.50-turned into support- as seen on the provided daily chart. Although Stochastic is very close to overbought areas but it becomes positive suggesting further gains over intraday basis. Meanwhile, Vortex continued introducing positive signal; thus, the bullishness is in favor over intraday basis. Ultimately, a break above 82.05 will actuate bulls to support their long positions over short term basis.

The trading range for today is among key support at 80.00 and key resistance now at 82.70.

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 81.50 targeting 83.00 and stop loss below 80.50 might be appropriate.