Morning Report

The pair stabilized above the broken neckline for the bullish technical pattern, shown above, insuring more possible bullish direction over an intraday basis; targeting mainly 1.0595 then 1.0700. It is vital that trading remain above 1.0425 for the bullish intraday to continue.

The trading range for today is among the key support at 1.0340 and the key resistance at 1.0700.

The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.

Morning Report Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0500 targeting 1.0595 and stop loss below 1.0425, might be appropriate.