Morning Report

The pair attempted to breach critical resistance levels highlighted in the image above, but the MA 50 was able to help the pair return to achieve a daily closing below these levels. This factor, alongside stochastic losing a large part of it bullish momentum, makes us hold onto the expected bearish intraday scenario initially targeting 0.9720. The breach of 0.9840 will make the pair's mission of resuming awaited targets easier, while the daily losing remains below 0.9930 is vital in order for the scenario to continue.

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.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9905 targeting 0.9720 and stop loss above 1.0000, might be appropriate.