Morning Report

The pairapproached yesterday's awaited target around 1.3055 and rebounded, where the minor descending channelappeared toorganize the bearish intraday trend trading that initially had started after the breach of pivotal support 1.3180. The positivity of Stochastic could push the pair to retest this level before reversing to continue the expected bearish intraday direction. Upcoming targets are below 1.3000 keeping in mind that breaching 1.3180 will cause this suggested scenario to fail.

The trading range for today is among the key support at 1.2965 and the key resistance at 1.3255

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

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.3180 targeting 1.3055 and stop loss above 1.3255, might be appropriate.