Morning Report

The pair declined slightly, but is still sable above the exponential moving average 20 (EMA 20), and also above the middle line of Bollinger band indicator, while the current bearishness could reduce the overbought sharpness seen on Stochastic. But, consolidation above the downside trend's main support and above the middle line of Bollinger band at 0.7750 could support the pair to extend the positive attempts and retest the descending channel's main resistance at 0.8135. Stability above 0.7620 is required for our intraday expectations to remain valid.

The trading range for today is among the major support at 0.7500 and the major resistance at 0.8135.

The short-term trend is to the upside with steady weekly closing above 0.6980 targeting 0.8815.

Previous Report

Weekly Report

RecommendationBased on the chart and explanations above, we recommend buying the pair around 0.7750, and take profit in stages at (0.7875, 0.7965 and 0.8020) stop loss with 4-hour closing below 0.7620 might be appropriate.