Morning Report

The pair has soared clearing three important technical obstacles as follows:

The minor resistance line -colored in blue-.

SMA 100

The pivotal resistance-turned into support- at 0.9230.

At the same time, Stochastic continues moving upwards after fixing yesterday's shaky sign; whilst RVI14 is still giving off bullish signal. Thus, the bullish picture came back into focus and a break above 0.9310 will accelerate inclines. The potential support for intraday traders resides at 0.9105 zones.

The trading range for today is among key support at 0.9080 and key resistance at 0.9520.

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 above 0.9245 targeting 0.9460 and stop loss below 0.9100 might be appropriate.