Morning Report

The pair yesterday descended strongly since it was unable to build a base above the breached resistance level at 1.3365. More importantly, a bearish technical pattern's breached neckline at 1.3270 and thereby helps the pair return within the bearish trend once again. Momentum indicators are showing positivity, where these crossover signs make us recommend observing trading today especially for levels around 1.3200 and 1.3270.

The trading range for today is among the key support at 1.3080 and the key resistance at 1.3425.

The short term trend is to the upside as far as 1.2795 remains intact with targets at 1.5135.

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Weekly Report

RecommendationBased on the charts and explanation above our opinion is observing the pair’s movement to insure its upcoming direction.