Morning Report

The pair stabilized below breached support and MA 50, while itapproached the bearish technical pattern as its neckline is at previously mentioned pivotal support at 1.0150; therefore, encouraging us to expect a bearish intraday trend that will start with the breach of mentioned support and head towards the expected main target at 1.0000. It is vital that the breach of 1.0235 will weaken achieving these expectations.

The trading range for today is among the key support at 1.0000 and the key resistance at 1.0335.

The short term trend is to the downside as far as 1.0780 remains intact with targets at 1.0000.

Weekly Report Previous Report

RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.0150 targeting 1.0000 and stop loss above 1.0235, might be appropriate.