The dollar versus swissy continued it's sideway trading between 76.4% and 23.6% correction levels, where it was completed within it; whereas we witness that the bullish technical pattern's neckline is at 1.0480. the constant slantupward is encouraging us to expect a breach of the neckline mentioned and then pave the way to achieve an expect bullish direction over an intraday basis; targeting initially 1.0550 - the gate to return towards the bullish direction and end the current bearish correction -. It vital to pay attention to the negative signs appearing on momentum indicators, which might remain fluctuating sideways for a while. As long as 1.0380 remains intact, chances of achieving these expectations are high.
The trading range for today is among the key support at 1.0345 and the key resistance at 1.0600.
The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.
Monthly Report Weekly Report
|Recommendation||Based on the charts and explanations above our opinion is buying the pair from 1.0420 targeting 1.0550 and stop loss below 1.0345, might be appropriate.|
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