Morning Report

The pair retested the support for the ascending correctional channel previously breached. We can also see the negative crossover on Stochastic after reaching overbought areas. Therefore, we expect an intraday downside move targeting areas around 0.9585 and require stability below 0.9845.

The trading range for today is among the major support at 0.9585 and the major resistance at 0.9900.

The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is opinion is selling the pair with hourly closing below 0.9770 targeting 0.9585 and stop loss above 0.9845 might be appropriate