Morning Report

The pair maintained stability below 0.9920, while the MA 50 continues its negative pressure on the pair supporting trading within the short term descending channel. This makes us hold onto yesterday's suggested scenario, where we recommend reviewing it - by clicking the link below - in order to further explain the suggested targets and what it needs to prevail.

The trading range for today is among the key support at 0.9700 and the key resistance at 1.0000.

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

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9920 targeting 0.9750 and stop loss above 1.0010, might be appropriate.