Morning Report

The negative pressure continued to achieve a strong bearish movement nearing 1.2900. Some minor bullish correction is expected due to therelieve of momentum indicators, but in overall more bearish movement is expected today. The breach of 1.3095 could make the intraday direction rebound to the upside, while keeping the bearish short term wave intact as long as trading is below main resistance 1.3430.

The trading range for today is among the key support at 1.3090 and the key resistance at 1.3350.

The short term trend is to the downside as far as 1.3770 remains intact with targets at 1.2450.

Previous Report Weekly ReportSupport1.29201.28751.28401.27901.2755Resistance1.30351.30901.31651.31901.3265RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.3035 targeting 1.2920 and stop loss above 1.3090, might be appropriate.