Morning Report

The pair settles below the main previously breached ascending support, and below the recently formed descending resistance; this resistance at 1.0030 forms the main barrier and protection for the intraday downside bias today. Trading below the aforementioned resistance could push the pair to settle below the exponential moving averages 20, and 50, hinting further negativity, while breaching 1.0070 to the upside shall threaten the negative bias.

The trading range for today is expected among the key support at 0.9815 and resistance at 1.0100.

The short term trend is to the upside targeting 1.0650 with steady weekly closing above 0.9900.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above, our opinion is selling the pair around 1.0000, and take profit in stages at (0.9905 and 0.9865) and stop loss above 1.0070 might be appropriate