Midday Report

The pair today is facing difficulty in stabilizing below 1.2830 and rebound to the upside strongly towards 1.2900 due to the positive effect from Stochastic. We hold onto our morning expectations if a base is not built above 1.2950.

The trading range for today is among the key support at 1.2600 and the key resistance at 1.2950.

The short term trend is to the downside as far as 1.3770 remains intact with targets at 1.1700.

Morning Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.2830 targeting 1.2730 and stop loss above 1.2900, might be appropriate.