Morning Report

The negative pressure on pivotal support levels continue, where the pair is currently trading at main support 1.3900 in an attempt to breach and pave the way to achieve more bearish direction; however, momentum is still pushing the pair to ascend. We expect abearish intraday direction that will prevail with the breach of the last support level to initially target 1.3800 then 1.3700. It is vital that 1.4050 remain intact to maintain the expected bearish trend.

The trading range for today is among the key support at 1.3740 and the key resistance at 1.4145.

The general trend is to the upside as far as 1.3480 remains intact with targets at 1.6000.

Morning Report Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.3900 targeting 1.3740 and stop loss above 1.4000, might be appropriate.