Morning Report

The pair is fluctuating around MA 50 in an attempt to stabilize above it, with signs of a bullish pattern appearing as a falling wedge; targeting the breach of its resistance at 1.0765 that paves the way for achieving the possible bullish intraday direction that starts its main targets at 1.0895 that requires trading to remain above 1.0645 to insure it prevailing.

The trading range for today is among the key support at 1.0605 and the key resistance at 1.0895.

The general trend is to the downside as far as 1.1095 remains intact with targets at 0.9910.

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RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 1.0765 targeting 1.0895 and stop loss below 1.0645, might be appropriate.