Morning Report

The pair is close to touching the initial main target around yesterday around 1.0135 keeping in mind that the pair was able to stabilize below minor support 1.0200. This is below 1.0200 in addition to stabilizing belowSMA 50 encourages us to expect a bearish intraday trend; upcoming targets are around 1.0040 - 1.0000. Chances of the expected bearish trend continuing depend on building a base below 1.0265.

The trading range for today is among the key support at 1.0000 and the key resistance at 1.0265.

The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.0200 targeting 1.0105 and stop loss above 1.0265, might be appropriate.