Morning Report

The pair was able to reach the retest level at 1.0000, while momentum indicators are gradually riding of the positive momentum that continues pushing the pair to the upside; therefore, we hold onto the expected bearish intraday direction that initially targets 0.9815. Note: the breach of 1.0000 and building a base above it could postpone resuming these targets and lead towards a visit of the descending channel's resistance level at 1.0135.

The trading range for today is among the key support at 0.9815 and the key resistance at 1.0135.

The short term trend is to the upside as far as 1.0665 remains intact with targets at 0.9000.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.0000 targeting 0.9815 and stop loss above 1.0140, might be appropriate.