Morning Report

The pair closed yesterday below the sideway range's support level 0.9840, which is considered to be a positive sign on the scenario mentioned in our previous reports. The current upside lean is due to the positivity of the clear stochastic; therefore, we expect to witness some fluctuations within the narrow range before heading towards resuming the expected bearish intraday journey, which in overall will help it head towards the initial target that starts around 0.9700. Note the importance of a daily closing below 0.9925, in order to resume the awaited bearish direction.

The trading range for today is among the key support at 0.9600 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 0.9840 targeting 0.9700 and stop loss above 0.9925, might be appropriate.