Morning Report

The pair succeeded in achieving yesterday's suggested scenario to return within the bearish direction, which is shown above. Signs of a bearish technical pattern are appearing on the four-hour chart and the suggested neckline is at 0.9950, as trading remains intact below 1.0075. The awaited targets are around 0.9865 then 0.9805.

The trading range for today is among the key support at 0.9805 and the key resistance at 1.0120.

The short term trend is to the downside as far as 1.0780 remains intact with targets at 0.9705.

Previous Report Weekly ReportSupport0.99500.99000.98650.98050.9750Resistance0.99801.00501.01201.02001.0240RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 0.9950 targeting 0.9805 and stop loss above 1.0075, might be appropriate.