Morning Report

The bullish candlestick insures our expectations of a possible bullish direction, where stability will be above 1.0625 and vital to insure a bullish trend and therefore also insuring the bullish technical pattern shown in the side image, which also assures it returning to stabilize above MA 50; thus, stability will also be eminent when the end of the harmonic technical pattern effect's are insured, which had been signaled to in our weekly report.

The trading range for today is among the key support at 1.0470 and the key resistance at 1.0790.

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

Previous Report Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0600 targeting 1.0720 and stop loss below 1.0520, might be appropriate.