Morning Report

The pair returned to incline, yet the bullishness was limited below the upside movement's main resistance as shown above. we still expect a general upside move, but a downside correction is needed before this upside movement continues, where approaching the ascending channel's main resistance along with Stochastic being within overbought areas and also the negativity seen on the Relative Strength Index, are reasons thatencourage us to expect a downside movement today.

The trading range for today is among the major support at 1.0010 and the major resistance at 1.0400

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

Previous Report

Weekly Report

Support1.02901.02501.02251.01851.0125
Resistance1.03751.04001.04501.05001.0550
RecommendationBased on the charts and explanations above, we recommend selling the pair below 1.0350, and take profit in stages at (1.0125, 1.0085) and stop loss with 4-hour closing above 1.0400 might be appropriate