Morning Report

The pair is stable below the breached support at 0.9780, which turned into resistance, where this fact suggests further attempts tothe downside. The suggested bearishness is only a correction of the upside wave which started from the bottom at 0.9405. RSI attempts to turn positive, however, consolidation below 0.9865 should keep our negative expectations valid.

The trading range for today is among the major support at 0.9635 and the major resistance at 0.9970

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 selling the pair around 0.9780, and take profit in stages at (0.9710, 0.9680 and 0.9635) and stop loss with 4-hour closing above 0.9880 might be appropriate.