Morning Report

The pair managed to achieve a strong breach of pivotal resistance 1.0720 - presently ascending to become support at 1.0750- as signs of a bullish technical pattern are appearing as its neckline is impeding the pair's current push at 1.0805. More expected bullish intraday is predicted for today, but some minor correction surpasses it to rid of negative signs appearing on momentum indicators; therefore we expect a base to be built on support 1.0750 followed by the bullish trend, where its primary targets are around 1.0890.These expectations will prevail if we do not witness stability in trading below 1.0660.

The trading range for today is among the key support at 1.0660 and the key resistance at 1.0950.

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

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RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0750 targeting 1.0890 and stop loss below 1.0660, might be appropriate.