Morning Report

The pair continues to fluctuate around the focal support at 0.9975 with attempts of breaching it intact,yet still the daily closing remained above that level. The pair started gradually to lose upside momentum support our expectations for the continuation of the downside wave over intraday basis today targeting 0.9865-0.9805; these expectations require four-hour closing below 1.0075.

The trading range for today is among the major support at 0.9805 and the major resistance at 1.0100.

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

Previous Report

Weekly Report

Support0.99000.98650.98050.97500.9705
Resistance0.99751.0001.00751.01401.0200
RecommendationBased on the charts and explanations above our opinion is selling the pair from 0.9975 targeting 0.9865and stop loss above 1.0075, might be appropriate