Morning Report

The negative pressure continues on the pair, where it fluctuated around MA 50.The bearish technical pattern's neckline at 1.3525, which encourages us to expect a possible bearish trend for today that will mainly be activated after the breach of 1.3525 to target 1.3430. The bearish short term wave will remain intact as long as trading remains below 1.3705.

The trading range for today is among the key support at 1.3430 and the key resistance at 1.3705.

The general trend is to the upside if we do not witness a daily close below 1.3485 with targets at 1.5150.

Previous Report Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.3605 targeting 1.3525 and stop loss above 1.3655, might be appropriate.