Morning Report

The pair maintained stability above the retest level appearing in our previous reports around 0.9625, while continuing to support offered by the MA 50. This maintains the expected bullish intraday scenario valid, initially targeting testing the strength of the previously breached ascending channel's strength that has currently turned into resistance at 0.9800. Momentum indicators are giving off negative signs that may push the pair to a new retest for 0.9625 before resuming the expected targets.

The trading range for today is among the key support at 0.9460 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.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair around 0.9625 targeting 0.9800 and stop loss below 0.9505, might be appropriate.