Morning Report

The pair is moving to the downside from the resistance level that has surpassed it and was highlighted yesterday, where a base was built below 1.0195 that will maintain chances of the bearish direction continuing. Some fluctuation is expected, alongside fluctuation that may cause oversold signs appearing through momentum indicators; however, this technical formation is an overall bearish pattern as seen on the four hour image above.

The trading range for today is among the key support at 0.9925 and the key resistance at 1.0285.

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 1.0140 targeting 1.0000 and stop loss above 1.0245, might be appropriate.