Morning Report

The pair is fluctuating gradually near support for the ascending channel at 1.1600 while getting rid of negative momentum shown in the four hour chart. The mentioned support that is supported bySMA 50 that encourages us to expect a bullish intraday direction; technical targets start at 1.1735 then 1.1780 requiring stability of 1.1480 so expectations may prevail.

The trading range for today is among the key support at 1.1480 and the key resistance at 1.1735.

The short term trend is to the upside as far as 1.0200 remains intact with targets at 1.2295.

Previous Report Weekly Report

Support1.16001.15401.14801.14001.1380Resistance1.16851.17351.17801.18251.1865RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.1600 targeing 1.1780 and stop loss below 1.1480, might be appropriate.