Morning Report

The pair is pushing downwards, where sharp fluctuations continue to dominate the trade, meanwhile the range bound among 1.0050 resistance and 0.9840 support has been intact since weeks. Now, the pair is attempting to the downside again, for a possible retest of the bottom of the range, however at the current level we prefer to stay aside as risk-reward is inappropriate.

The trading range for today is expected among the key support at 0.9840 and resistance at 1.0050.

The short term trend is to the upside targeting 1.0650 with steady weekly closing above 0.9850.

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Weekly Report

RecommendationBased on the charts and explanations above, we recommend staying aside awaiting further confirmations