Morning Report

The pair attempted to move to the downside yesterday, but was not able to surpass 1.0025 in order for trading to remain wedged within the range shown above. Stochastic is gradually losing bullish momentum and thus we hold onto our previous expectations of an expected bearish direction over an intraday basis; targeting 0.9925, while requiring trading to build a base below 1.0140 to continue.

The trading range for today is among the key support at 0.9815 and the key resistance at 1.0215.

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

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.0140 targeting 0.9925 and stop loss above 1.0215, might be appropriate.