Morning Report

The pair managed to breach the neckline shown yesterday around 1.3460 and is facing strong support at 1.3435. This negative pressure makes us expect a bearish intraday trend; where its first target is around 1.3330, which requires the four-hour closing to remain below 1.3460 to prevail.

The trading range for today is among the key support at 1.3330 and the key resistance at 1.3515.

The short term trend is to the downside as far as 1.4410 remains intact with targets at 1.2450.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.3460 targeting 1.3330 and stop loss above 1.3515, might be appropriate.