Morning Report

The pair is still attempting to return within the ascending channel through breaching pivotal resistance 1.0825. We see that the pair holds enough bullish momentum that would be enough to help it achieving the breakout to pave the way towards achieving a possible bullish trend over an intraday basis; targets start at 1.0895 then 1.0945. Keep in mind that the breach of 1.0780 will weaken chances of achieving these expectations.

The trading range for today is among the key support at 1.0715 and the key resistance at 1.1000.

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 with the breach of 1.0825 targeting 1.0895 and stop loss below 1.0780, might be appropriate.