Morning Report

The pair was not able to surpass 1.0305 and build a base above it to continue and trade below support for the descending channel appearing through the chart above. Vital levels appear and hold the keys to insuring the short term trend, starting at support 1.0215 that prevents achieving more bearish movement till now; whereas resistance 1.0300, which is considered to be the gate for the bullish short term direction. From here, we recommend observing trading for today especially for the mentioned vital levels to receive insuring signs for the future direction.

The trading range for today is among the key support at 1.0130 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.

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Weekly Report

RecommendationBased on the charts and explanation above our opinion is observing the pair’s movement to insure its upcoming direction.