Morning Report

The pair continued trading since yesterday around the retest level 1.0080, accompanied by stochastic touching oversold areas, giving off negative crossover signs that reinforce yesterday's suggested expectations. We expect to witness a bearish intraday direction starting its targets by attacking pivotal support 0.9925 then 0.9815, but keep in mind the importance of stabilizing below 1.0080 to maintain chances of resuming this scenario. SMA 50 supports the expected bearish direction.

The trading range for today is among the key support at 0.9815 and the key resistance at 1.0255.

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 1.0080 targeting 0.9925 and stop loss above 1.0175, might be appropriate.