Morning Report

The pair stabilized around 1.0000 in an attempt to gain enough bearish momentum to support achieving more bearish targets. In overall, we await a bearish direction on intraday basisand its targets are around 0.9865; requiring essentially the four hour candlestick to remain below 1.0060. MA 50 supports these expectations.

The trading range for today is among the key support at 0.9865 and the key resistance at 1.0100.

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

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RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.0060 targeting 0.9950 and stop loss above 1.0150, might be appropriate.