Morning Report

Yesterday's positive closing above the lower line of Keltner channel confirmed the solidity of the support areas around 0.9105. In the interim, Stochastic and RVI 14 continuedshowing bullish signs. Thereby, the bullish scenario discussed in our weekly report remains intact over intraday basis. Carefully note that, clearing the key support of 0.9030 will give us a reason for concern but taking 0.9210-0.9225 zones will clear the path for additional bullishness.

The trading range for today is among key support at 0.8985 and key resistance at 0.9360.

The general trend over short term basis is to the upside, targeting 0.9950 as far as areas of 0.8850 areas remain intact.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is, buying the pair around 0.9125 targeting 0.9310 and stop loss below 0.9030 might be appropriate.