Morning Report

The pair is still narrowly trading between pivotal support 1.0025 and the MA 50, with long fluctuations within this range point to a possible speedup in the expected direction after breaching support, which in role will reinforce trading to continue within the descending short term channel. The stochastic is offering bearish signs and thus we expect a bearish intraday trend starting targets at 0.9925 then 0.9815; while requiring trading to stabilize below 1.0200 to prevail.

The trading range for today is among the key support at 0.9815 and the key resistance at 1.0200.

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 with the breach of 1.0025 targeting 0.9925 and stop loss above 1.0090, might be appropriate.