Morning Report

The pair halted precisely at the first key target suggested yesterday, while there are ongoing negative signs thatare appearing on it. The pivotal support level of 1.2600 that we think will be breached and lead to a faster bearish direction. From here, we expect a bearish trend for today that will start with the breach of mentioned support and head towards main targets that start at 1.2510 - 1.2410 with the importance of trading remaining below 1.2790 to maintain chances of achieving this scenario.

The trading range for today is among the key support at 1.2450 and the key resistance at 1.2790.

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

Previous Report Weekly ReportSupport1.26001.25601.25101.24901.2450Resistance1.26651.27001.27401.27901.2840RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.2600 targeting 1.2490 and stop loss above 1.2700, might be appropriate.