Morning Report

The pair approached the resistance for the main ascending channel shown above and reversed gradually to the downside due to the negativity on momentum indicators. This reversal is considered a retest to 1.0185 areas before resuming the intraday upside move for today. Breaching areas of 1.0185 will push the pair south towards 1.0085 and might extend towards the psychological areas of 1.0000.

The trading range for today is among the major support at 1.0085 and the major resistance at 1.0440.

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 we recommend buying the pair around 1.0185 targeting 1.0390 and stop loss below 1.0085 might be appropriate