Morning Report

The pair succeeded in insuring a breach of the neckline mentioned yesterday at 1.0150; completing the bearish technical pattern's formation appearing in the image above. Therefore, we see that the expected direction for today is bearish, where its first target is at 1.0000. Keep in mind the importance of trading remaining below 1.0235 to insure the expected bearish direction prevailing.

The trading range for today is among the key support at 0.9950 and the key resistance at 1.0235.

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 from 1.0150 targeting 1.0000 and stop loss above 1.0235, might be appropriate.