Morning Report

The pair is still trading below the previously breached psychological barrier at 1.0000, thereby keeping the bearish slant intact. Momentum indicators are giving off positive signs that may push for a new retest for the breached level, before heading towards resuming the expected bearish intraday direction that initially targets 0.9815. It is vital that stability is below 1.0000 will maintain chances of achieving these expectations valid.

The trading range for today is among the key support at 0.9700 and the key resistance at 1.0110.

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 1.0110, might be appropriate.