Morning Report

The pair is still wedged between 1.0025 and 1.0140, with the currently neutrality of momentum indicators. The fluctuation is ongoing around SMA 50, where we expect to witness bearish momentum on momentum indicators; enough to support the expected bearish intraday direction scenario that will remain intact as long as trading is below 1.0210. Key technical targets are expected to start at 0.9925.

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.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.0020 targeting 0.9925 and stop loss above 1.0090, might be appropriate.