Morning Report

The pair stabilized below pivotal support and the most vital 1.0200, but through the four hour image above the pair's bearish trend is wedged between both ends of the falling wedge, where the pair is around its current support accompanied by momentum indicators showing negative signs that encourage us to expect a bullish intraday direction; targeting chiefly this falling wedge's resistance at 1.0325, which requires two vital factors to prevail. One, a clear breach of 1.0215 and the second is building a base above 1.0130.

The trading range for today is among the key support at 1.0000 and the key resistance at 1.0325.

The short term trend is to the upside as far as 1.0035 remains intact with targets at 1.1120.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 1.0215 targeting 1.0325 and stop loss below 1.0130, might be appropriate.