Morning Report

The pair continued trading around the retest level yesterday at 0.9625 according to technical indicators, where stochastic is showing signs of a positive crossover that supports the expected bullish intraday trend continuing; whereas the negativity from RSI could maintain fluctuation around the mentioned level for some time. Expected targets for today start at 1.9790 and it is vital to keep an eye on the pair's movement, since it represents the gateway back into the previously breached ascending channel. Note that stability below 0.9625 could postpone resuming the suggested upside trend.

The trading range for today is among the key support at 0.9515 and the key resistance at 0.9875.

The short term trend is to the downside as far as 1.0330 remains intact with targets at 0.8000.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair around 0.9625 targeting 0.9790 and stop loss below 0.9515, might be appropriate.