Morning Report

According to yesterday's suggested scenario; the pair declined to correct 38.2% from the ascending channel, seen in the image above. The pair now needs a slight upside correction due to the long black candlestick before continuing the decline. Overall, the pair may still decline further yet after relieving momentum indicators.

The trading range for today is among the key support at 1.4620 and the key resistance at 1.5155

The general trend is to the upside as far as 1.4135 remains intact with targets at 1.6000

Weekly Report

Monthly Report

RecommendationBased on the charts and explanations above, our opinion is selling the pair from 1.4905 to 1.4770 and stop loss above 1.5000 might be appropriate.