Morning Report

The pair continues trading with a slight upside bias since yesterday, while Stochastic is approaching overbought areas, a sign that the pair is loosing the upside momentum. This factor besides the MA 50 resistance make us favor a general intraday downside move. Our expectations require a clear breach of 0.9565, and stability below 0.9695.

The trading range for today is among the major support at 0.9445 and the major resistance at 0.9695.

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

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is opinion is selling the pair with the breach of 0.9565 targeting 0.9400 and stop loss above 0.9655 might be appropriate today