Morning Report

The pair succeeded in achieving the awaited primary targets around 0.9700 after insuring the breach of the sideway range's support level around 0.9840, while trading continues within bearish price channels appearing in the image above. After the expected minor bullish correction due to the positivity appearing though momentum indicators appearing before continuing the expected overall bearish direction, with upcoming targets around 0.9600. Note that the breach of 0.9840 could postpone resuming the suggested scenario.

The trading range for today is among the key support at 0.9500 and the key resistance at 0.9840.

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 0.9760 targeting 0.9600 and stop loss above 0.9840, might be appropriate.