Morning Report

The pair breached 1.0640 shown above, where this breach in addition to stability above MA 50 encourages us to expect more bullish movement over an intraday basis, which could be impeded by momentum indicators and cause some fluctuation before heading towards 1.0715 then 1.0795. The breach of support levels between 1.0640 - 1.0610 will weaken chances of achieving expectations.

The trading range for today is among the key support at 1.0585 and the key resistance at 1.0795.

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

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0640 targeting 1.0715 and stop loss below 1.0585, might be appropriate.