Morning Report

The pair is still trading below the broken psychological barrier around 1.0000, while evident negative signs are appearing through stochastic supporting that the bearish short term intraday wave continues. Hence, we expect a downside direction today starting key targets around 0.9815 then 0.9700, but we remind that order for this descend to prevail, trading must be below 1.0000 - 1.0050.

The trading range for today is among the key support at 0.9700 and the key resistance at 1.0050.

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 1.0115, might be appropriate.