Morning Report

The pair returned within the bearish channel above its support that has currently descended towards 1.0285 and thereby maintaining the suggested scenario yesterday intact, where we can expect a bullish intraday direction due to the positive momentum that keeps affecting as it appears through momentum indicators; while the daily closing that will continue above mentioned support. The expected targets will mainly start at 1.0460.

The trading range for today is among the key support at 1.0200 and the key resistance at 1.0460.

The short term trend is to the upside as far as 1.0200 remains intact with targets at 1.1730.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.0285 targeting 1.0420 and stop loss below 1.0200, might be appropriate.